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Insurable Interest Correct Answer Anything that an Insured may insure that damage and destruction would cause financial loss. There are three elements of insurable risk: Financial (monetary interest), Blood (a relative), and Business (a business partner) Risk Correct Answer The uncertainty or chance of a loss occurring. There are two types: Pure and Speculative Pure Risk Correct Answer Refers to situations that can only result in a loss or no change. There is no chance for financial gain. ...