Physical, Social or Market Risk - Physical: Storm, Tempest, Flood, Hurricane and other natural phenomena - Social: Riot, Strike, Civil Commotion, Burglary, Theft etc. - Market: Price reduction or purchase and sale constraints
Pure or Speculative Risk - Pure Risk : is considered in the context of existence of a chance of loss only, but not the chance of gain at all - Speculative Risk: When there is a chance of gain as well as loss
Static or Dynamic Risk : Static Risk: connected with losses caused by irregular action of forces of nature or mistakes and misdeeds of human beings - Dynamic Risk: associated with changes in human wants and improvements in machinery or technology
Fundamental or Particular Risk: Fundamental Risk: associated with groups, impersonal in origin and effect; in form of Political or Economical changes affecting a group - Particular Risk: are associated with individuals
Categories of risk attitude : Risk neutral: person reacts to risk in line with its statistical probability, Risk preferer: person welcomes the existence of risk and uncertainty, Risk averter: person is normally frightened by risk and does not like to live with uncertainty.
MODELEXAM® 
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