Risk related to investment can be classified into which of the following categories?

The correct choice relates to the nature of risk associated with investment returns. Investment risk typically encompasses the potential that the actual return may differ from the expected return. This concept is foundational in investment strategy and portfolio management.

Risk can be characterized in various ways, but primarily, it refers to the uncertainty of achieving expected returns. A guaranteed investment return removes this uncertainty because it guarantees a specific outcome, which means the risk is effectively minimized or eliminated. This is a clear distinction, as investments that offer guaranteed returns are typically associated with lower risk profiles compared to those that do not provide guarantees.

When considering the other selections, options that focus on exceeding expectations or the risk of losing no part of the investment address the implications of risk in terms of potential gain or loss rather than clarifying what constitutes investment risk. Specifically, the notion of the risk of return not matching expectations also highlights investment risk but does not address the aspect of guaranteed returns.