All of the following statements pertaining to risk are correct EXCEPT:

Insurance

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All of the following statements pertaining to risk are correct EXCEPT:

A) uncertainty regarding financial loss is the definition of risk; therefore, it is characteristic of both pure and speculative risks.

B) only pure risks are insurable.

C) a stock market venture is an example of a pure risk.

D) pure risk involves only the chance of loss; there is never a possibility of gain or profit.

Answer: C

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