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1. Explain why Is it important to distinguish pure and speculative risk & fundamental and particular risks? (6 marks) 2. Pure risks ideally should have

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1. Explain why Is it important to distinguish pure and speculative risk & fundamental and particular risks? (6 marks) 2. Pure risks ideally should have certain characteristics to be insurable by private (6 marks) insurers. List the six characteristics of an ideally insurable risk

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