MANAGEMENT

Detailed explanation-1: -Speculative risk is a category of risk that, when undertaken, results in an uncertain degree of gain or loss. In particular, speculative risk is the possibility that an investment will not appreciate in value. Speculative risks are made as conscious choices and are not just a result of uncontrollable circumstances.

Detailed explanation-2: -Risk: Uncertainty arising from the possible occurrence of given events that would result in loss with no opportunity for gain.

Detailed explanation-3: -Pure risk refers to risks that are beyond human control and result in a loss or no loss with no possibility of financial gain.

Detailed explanation-4: -Types of Risks Widely, risks can be classified into three types: Business Risk, Non-Business Risk, and Financial Risk. Business Risk: These types of risks are taken by business enterprises themselves in order to maximize shareholder value and profits.

Detailed explanation-5: -Chance of loss is closely related to the concept of risk. Chance of loss is defined as the probability that an event will occur. Like risk, probability has both objective and subjective aspects.