Ciig Insurance Practice Test & Exam Prep | Ghana

Which of the following is the most accurate definition of pure risk in insurance terms?

A situation that offers the possibility of either a loss or a gain A situation that involves only the possibility of loss or no loss, with no chance of gain A risk that can be completely eliminated through business diversification A risk associated solely with speculative trading in capital markets

Correct Answer:

A situation that involves only the possibility of loss or no loss, with no chance of gain

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