Question: Q1.4 Explain the basic risk classifications by contrasting and comparing the following: Provide practical examples where applicable. Q.1.4.1 Perils and Hazards. (2) Q.1.4.2 Pure and

Q1.4 Explain the basic risk classifications by contrasting and comparing the following: Provide practical examples where applicable. Q.1.4.1 Perils and Hazards. (2) Q.1.4.2 Pure and speculative risks. (2) Q.1.4.3 Insurable and non-insurable risks. (2) Q1.4.4 Fundamental risk and particular risks. (2) Q.1.4.5 Systematic risk and systemic risk. (2)

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