2. 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.

3. 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.

4. 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.

5. 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.

6. 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.

7. 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.

8. 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.

9. 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.

10. 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.

11. 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.