Understanding Risk Management
Category: Risk Management
DRE Approved(Sponsor #5017)
Risk management is the identification, assessment, and prioritization of risks, followed by coordinated application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events. Risks can come from uncertainty in the market, failures, legal liabilities, accidents, natural causes and disasters as well as deliberate attacks from an adversary, or events of uncertain or unpredictable root-cause.
In the real estate arena, these types of risks are usually in the form of fraud, a breach of contract, or a violation of an agent’s fiduciary duty or code of ethics. The strategies to manage risk typically include transferring the risk to another party, avoiding the risk, reducing the negative effect or probability of the risk, or even accepting some or all of the potential or actual consequences of a particular risk.
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PDF Study Materials:All course materials are provided as PDF files that can be downloaded from your account immediately after purchase. Exams are administered online and are accessed by logging in to your user account.
Empire Learning courses offered to California licensees are approved by the California Department of Real Estate (DRE Sponsor #5017) for continuing education credit. Each of the courses is individually approved and has a specific approval number that will be displayed on your completion certificate.
Our 45-hour continuing education packages are designed to meet the full renewal requirements for your specific license.
Note: The California Bureau of Real Estate (CalBRE) has changed its name back to the California Department of Real Estate (DRE) effective July 1st, 2018.