Course Overview Lesson 1: Introduction to Risk Management introduces you to: The important aspects of risk management Importance of setting your goals The task of determining your “risk attitude” Different types of risk Lesson 2: Sources of Risk: Defines risk Investigates the five major sources of risk Speaker Notes: Lesson 1, Introduction to Risk Management, provides you an overview of the important aspects of risk management. This lesson also consists of sections on setting your goals and determining your “risk attitude” or how you look at different types of risks. As you work your way through the lessons, take advantage of the Glossary and References that are provided to obtain further information about each topic. Lesson 2, Sources of Risk, further defines risk and investigates the five major sources of risk that most people encounter in their businesses.

Course Overview Lesson 3: Strategic Planning and Goal Setting covers the following: Importance of Strategic Planning and Goal Setting Factors that influence goal setting process Strategic planning process Integrated Management Planning ‘SMART’ goals Goal selection and tactical objectives Speaker Notes: Lesson 3, Strategic Planning and Goal Setting, takes what you’ve learned in the first two lessons and focuses on Goal Setting and Insurance Products that are available to farmers and ranchers in Wyoming.

Course Overview Lesson 4: Risk Management Agency Insurance Products includes the following: An overview of RMA insurance products Types, terms, and tools Insurable units Actual production history (APH) Speaker Notes: In lesson 4, Risk Management Agency Insurance Products, you’ll learn about the role of the Risk Management Agency as an insurer and how it helps producers manage business risks through its effective risk management solutions. You will also learn about the terms associated with different insurance types and will investigate the broad categories of agricultural insurance. You will learn about the differences among the types of insurance coverage available, recognize the difference between optional, basic and enterprise units and you’ll be able to calculate the Actual Production History or APH for several different scenarios.

Course Overview Lesson 5: RMA Crop Production and Revenue Insurance Products will focus on: Wyoming acres of annually-planted crops and acres insured Multiple Peril Crop Insurance Catastrophic Risk Protection (CAT) Crop Revenue Insurance (CRC) Group Risk Plan (GRP) Forage Insurance (Seeding and Production) Speaker Notes: Lesson 5, RMA Crop Production and Revenue Insurance Products for Wyoming, will focus on crop production statistics for Wyoming. You will also learn about the Multiple Peril Crop Insurance for several different crops that are grown in the state.

Course Overview Lesson 6: Rangeland Insurance covers: The counties covered by rangeland insurance The rangeland insurance program Interest calculation examples Speaker Notes: In lesson 6, Rangeland Insurance, you’ll learn about Rangeland insurance for Wyoming, a new product that is being introduced to livestock producers.

Course Overview Lesson 7: Livestock Insurance Products covers: Livestock Risk Protection Livestock Risk Protection (LRP) for feeder cattle Basics of LRP insurance Indemnity calculations Speaker Notes: Lesson 7, Livestock Insurance Products, will introduce you to the insurance products available for livestock producers. You will further learn about livestock risk protection or LRP insurance that primarily relates to feeder cattle.

Course Overview Course Overview Lesson 8: Production Risk Management (PRM) in the Absence of RMA Products focuses on: Production Management Risk Options Request for Actuarial Change Options Non-insured Crop Disaster Assistance Program (NAP) Speaker Notes: Lesson 8, Production Risk Management (PRM), in the Absence of RMA Products will introduce you to the options available to producers when there are no actuarial products offered.

Course Overview Course Overview Lesson 9: Price Risks for Alternative Crops, Diversification and Risk focuses on: Price Risk and Diversification Price Correlation Price Correlation-Reduction Methods Speaker Notes: Lesson 9, Price Risks for Alternative Crops, Diversification and Risk, will introduce you to price risk. You will also learn about the price correlation and how it helps in reducing the overall price risk.

Course Overview Course Overview Lesson 10: Retained Ownership of Livestock and Risk focuses on: The risks associated with retained ownership of livestock Retained ownership risk management Speaker Notes: Lesson 10, Retained Ownership of Livestock and Risk, focuses on retained ownership of livestock and the risks associated with it. It also deals with the Management of Retained Ownership Risk.

Course Overview Lesson 11: Drought Mitigation covers: The four government programs: Emergency Loan Program Emergency Conservation Program Crop Disaster Program (ad hoc) Livestock Assistance Program (ad hoc) The tax implications for disbursement of breeding stock Speaker Notes: Lesson 11, Drought Mitigation, focuses on the four government programs that deal with the effect of drought on crops and livestock. You will also review the tax implications for the disbursement of breeding stock during droughts.