Systematic Versus Unsystematic Risk Classify the following events as mostly systematic or mostly unsystematic:

(a) The Bank of England’s base rate increases unexpectedly.

(b) A company renegotiates its bank debt after breaching a covenant agreement.

(c) Oil prices unexpectedly decline.

(d) No clear winner in the British general election.

(e) A bank loses a multimillion-pound lawsuit for the mis-selling of derivative products.