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Lecture Two : Risk and Insurance. Learning Objectives Explain the meaning of the risk Distinguish between pure risk and speculative risk Understand how
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1. Risk, Terminology, ERM Bus 200 Introduction to Risk Management and Insurance Fall 2008 Prof. Jin Park
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Meaning of Risk Risk is the potential that a chosen action or activity (including the choice of inaction) will lead to a loss (an undesirable outcome)
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