The document discusses key concepts in disaster risk such as exposure, sensitivity, vulnerability, and risk. Exposure refers to people and assets located in hazard-prone areas, while sensitivity describes how communities can be affected. Vulnerability is the inability to withstand hazards or respond to disasters, and can be social, psychological, physical, economic, or environmental. A vulnerability assessment identifies hazards, susceptible areas, affected sectors, and a community's ability to cope. Such assessments inform disaster preparedness planning.