Types of Risks/Risk Exposures
Risk Management for Enterprises and Individuals (open textbook), section 1.05
Edition and licensing notes
Publisher. LibreTexts Business (biz.libretexts.org), from the open textbook of the University of Minnesota Libraries / Saylor (Baranoff, Brockett and Kahane)
Edition. CC BY-NC-SA 3.0 open textbook, ca. 2009-2012; page as served 2026-09-29
Status. Creative Commons Attribution-NonCommercial-ShareAlike 3.0 (LibreTexts / University of Minnesota Libraries).
What this document is
Risk Management for Enterprises and Individuals (open textbook), section 1.05: Types of Risks/Risk Exposures is a reference published by LibreTexts Business (biz.libretexts.org), from the open textbook of the University of Minnesota Libraries / Saylor (Baranoff, Brockett and Kahane). It is one of the documents that insurance license exam questions are written from, including property & casualty practice questions. This page summarizes it and points to the official version, which is the text to rely on.
Sections cited in practice questions
Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.
- Risk Management for Enterprises and Individuals, section 1.5, "Pure versus Speculative Risk Exposures"
“risk professionals often differentiate between pure risk that features some chance of loss and no chance of gain (e.g., fire risk, flood risk, etc.) and those they refer to as speculative risk. Speculative risks feature a chance to either gain or lose (including investment risk, reputational risk,...”
- Risk Management for Enterprises and Individuals, section 1.5, "Accidental Loss Exposure and Particular Pure Risk"
“As opposed to fundamental losses, noncatastrophic accidental losses, such as those caused by fires, are considered particular risks.”
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