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Question 1 Explain in detail the difference between pure risk and speculative risk. (8 marks) 2 Provide and explain FIVE (5) examples of process risk.

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1 Explain in detail the difference between pure risk and speculative risk. (8 marks)

2 Provide and explain FIVE (5) examples of process risk. (10 marks)

3What is the importance of risk management in an organization? (2 marks)

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