Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
5 Cards in this Set
- Front
- Back
|
Risk
|
Uncertainty regarding financial loss
|
|
|
What are the two types of risk?
|
Speculative
Pure |
|
|
What is Speculative Risk?
|
Speculative Risk involves three types of outcome..loss, no loss or profit.
|
|
|
What is Pure Risk?
|
Pure risk involves two possible outcomes loss or no loss.
|
|
|
What are the five basic ways to handle risk?
|
TRAIL
T - Transfer R - Retention A - Avoidance I - Insurance L - Loss of control |
