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Question: A Pure risk is defined as a situation in which there is

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  1.  Only the possibility of loss or no loss
  2.  Only the possibility of profit
  3.  A possibility of neither profit nor loss
  4.  A possibility of either profit or loss

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1. Only the possibility of loss or no loss

A pure risk is defined as a situation in which there is only the possibility of loss or no loss.

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