music, books, and movies. 11. The person or company buying an insurance policy is the (?). 12. (?) refers to illegal uses of patents, trademarks, and copyrights. Part 3 Types of Risk Directions In the Answers column, indicate which type of risk is described by each statement. A. economic risk C. pure risk E. controllable risk G. insurable risk B. non-economic risk D. speculative risk F. uncontrollable risk H. uninsurable risk 13. This risk is not common, and the amount of loss is impossible to predict. 14. You cannot reduce the risk by actions you take. 15. The three categories include personal risk, property risk, and liability risk. 16. You can reduce or eliminate the loss by actions you take. 17. You may be inconvenienced, but you will not incur financial impact. 18. A tornado, blizzard, or flood is an example of this type of risk. 19. Many people face the risk, and the cost of possible losses can be predicted. 20. This risk offers the chance either to gain or to lose. Answers 13. 14. 15. 16. 17. 18. 19. 20. A