Pure risk always exists when the possibility of a loss is present but the possible extent of the loss is unknown.

Name: Pure risk always exists when the possibility of a loss is present but the possible extent of the loss is unknown.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Pure risk involves situations where there is no chance of gain, only the possibility of loss, and the extent of that loss is unknown. This can include events such as natural disasters, accidents, and illnesses.

Pure Risk Always Exists When the Possibility of a Loss