Which of the following is NOT correct about risk?

In Finance, unsystematic risk $($firm$-$specific risk$)$ is not rewarded with higher expected return.

In Finance, systematic risk $($market risk$)$ is rewarded risk.

In Finance, risk in an investment means actual returns that are lower than an expected return.

In Finance, risk in an investment means actual returns that deviate $($both higher and lower$)$ from an expected return.