Question $25(2\mathrm{.}5$ points$)$

$6$

Which of the following statements regarding risk is incorrect?

$9$

$11$

$12$

Objective risk is the difference between the expected and actual losses.

Particular risk is a risk that will impact a large group of individuals simultaneously.

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Subjective risk is the risk that an individual perceives based on their prior experiences.

$14$

$15$

Speculative risk is the chance of loss, no loss, or a profit.