ECONOMICS
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Personal Risk
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Property Risk
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Liability Risk
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All are economic risk
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Detailed explanation-1: -Types of Risks Widely, risks can be classified into three types: Business Risk, Non-Business Risk, and Financial Risk.
Detailed explanation-2: -Business risk usually occurs in one of four ways: strategic risk, compliance risk, operational risk, and reputational risk.
Detailed explanation-3: -convertibility risk. foreign exchange risk. translation risk. central bank activities (interest rate fluctuation, availability of funds) economic indicator movement (GDP, unemployment, purchasing power, inflation, etc.) 18-Aug-2020
Detailed explanation-4: -strategic risk-eg a competitor coming on to the market. compliance and regulatory risk-eg introduction of new rules or legislation. financial risk-eg interest rate rise on your business loan or a non-paying customer. operational risk-eg the breakdown or theft of key equipment.