Hello I have noticed that, in Chapter 8, there are frequent references to how Lam and Chapman categorise risks differently, e.g. Chapman defines market risk as the risk of lower sales/profits due to external market environment changes. Is it necessary to know how each author interprets each kind of risk, or is it sufficient to have a broad understanding of the risks ourselves? Many thanks
I do not think it necessary to be able to say who classified a risk in a particular way. What is important is that you appreciate how classifications might be interpreted in different ways and be in a position to quote examples of the differing interpretations.
