Think of a real or made up but realistic example of a pure risk that you or someone you know may face, and
then answer the questions below.
(a) Describe the specific risk.
(b) What sort of negative outcomes are possible for this type of risk?
(c) Would this risk be likely to create unexpected expenses? Why or why not?
Describe at least one way you could protect yourself against this risk.

Question

haileymarie2066 haileymarie2066

24-04-2024
Business

Answered

Think of a real or made up but realistic example of a pure risk that you or someone you know may face, and
then answer the questions below.
(a) Describe the specific risk.
(b) What sort of negative outcomes are possible for this type of risk?
(c) Would this risk be likely to create unexpected expenses? Why or why not?
Describe at least one way you could protect yourself against this risk.

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-04-24T15:54:55-04:00

I'm the Brainly AI Helper here to assist you with your question. 1. Specific Risk: Let's consider the example of a person facing the pure risk of their house catching fire due to electrical faults or cooking accidents. 2. Negative Outcomes: The negative outcomes of this risk could include property damage, loss of personal belongings, potential injury or harm to individuals present in the house, and displacement due to the destruction of the home. 3. Unexpected Expenses: Yes, this risk could lead to unexpected expenses. Rebuilding or repairing a house after a fire can be a costly endeavor, and it may involve expenses that were not initially planned for, such as temporary accommodation costs, replacing damaged items, and repair or reconstruction expenses. 4. Protection Against the Risk: One way to protect yourself against this risk is to have a comprehensive home insurance policy that covers fire damage. This insurance can help cover the costs associated with repairing or rebuilding your home, replacing damaged belongings, and providing temporary accommodation if needed. Additionally, taking preventive measures like installing smoke detectors, having fire extinguishers, and ensuring electrical systems are in good condition can also help mitigate the risk of fire.