Analyzing Your Financial Risks

Analyzing your financial risks has two stages:

  1. identifying the risks
  2. evaluating the risks

Identify the Risks

This is where your advisor

  • may ask you to complete a questionnaire ("Know Your Client")
  • gather and analyze your financial statements
  • prepare a cash flow chart
  • examine the insurance you already have

Evaluate the Risks

  • what is the maximum possible loss?
    • if you own a building, a fire might require full replacement of the building
  • what is the maximum probable loss?
    • if you have three trucks that take different routes or the same route at different time, then you may insure against the death of one of the three trucks and truckers

PS Network

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