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

Question

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

Options:

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

Answer 1

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.