Definition-Exposure to the chance of loss.
How far are you in your understanding? I can:
1.0: Write a factual statement (not definition) concerning a risk.
2.0: In your own word (not the teacher's), define risk.
3.0: Give an example for each of the 5 ways we handle risk (avoidance, acceptance, share and reduce and transfer)
4.0: Give a financial example for how consumers use each method of risk in the real world.