Actuarial Science Vocabulary
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Speculative risk correct answers A risk that involves three possible outcomes: loss, gain, or no change. (example: stocks) pure risk correct answers A risk that involves no possibility of gain. There is either a loss or no loss. (example: possibility you will become disabled. You can only insure pure risk. risk management correct answers The practice of identifying risk, assessing risk, and dealing with risk. We can do four things: avoid risk, control risk, accept risk, and transfer risk. ...
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Speculative risk correct answers A risk that involves three possible outcomes: loss, gain, or no change. (example: stocks) pure risk correct answers A risk that involves no possibility of gain. There is either a loss or no loss. (example: possibility you will become disabled. You can only insure pure risk. risk management correct answers The practice of identifying risk, assessing risk, and dealing with risk. We can do four things: avoid risk, control risk, accept risk, and transfer risk. ...