Final answer:
The FALSE statement regarding speculative risk is C. It is a feature of gambling.
Step-by-step explanation:
The FALSE statement regarding speculative risk is C. It is a feature of gambling.
Speculative risk involves the possibility of gain or loss, making options A and B true statements. However, it is important to note that speculative risk is not exclusive to gambling. Speculative risk is also found in investment and financial markets, where individuals take on risk in the hopes of earning a profit.
On the other hand, insurance is a mechanism designed to mitigate or transfer risk, making statement D true. Insurance is not considered speculative risk as it involves protecting against potential losses rather than seeking a gain.