The United States Army considers itself descended from the Continental Army, and dates its institutional inception from the origin of that armed force in 1775. As a uniformed military service, the Army is part of the Department of the Army, which is one of the three military departments of the Department of Defense.
Pure risk, also known as absolute risk, is insurable. Speculative Risk: Three possible outcomes exist in speculative risk: something good (gain), something bad (loss) or nothing (staying even). Gambling and investing in the stock market are two examples of speculative risks.
Value at risk (VaR) is one of the most widely known measurements in the process of risk management. Risk management's aim is to identify and understand exposures to risk, to measure that risk, and then use those measurements to decide how to address those risks.