MANAGEMENT

Detailed explanation-1: -Personal pure risks are risks affecting an individual that result in a loss or reduction of personal assets. Unemployment is an example of pure risk. An illness that requires expensive medical treatment and thus reduces personal assets is another example.

Detailed explanation-2: -Personal risks directly affect an individual and may involve the loss of earnings and assets or an increase in expenses. For example, unemployment may create financial burdens from the loss of income and employment benefits.

Detailed explanation-3: -Personal risks are risks that directly affect an individual or family. They involve the possibility of the loss or reduction of earned income, extra expenses, and the depletion of financial assets.

Detailed explanation-4: -Income Risk, Expense Risk, Asset/Investment Risk, and Debit/Credit Risk are the four types of risk.

Detailed explanation-5: -2. Personal risk: Examples of personal risk include bankruptcy, unemployment, arrest, and identity theft.