Which of the following is NOT one of the basic risk tenets or "rules of thumb" in risk management?

The correct answer highlights that identifying speculative risks as beneficial is not aligned with the foundational principles of risk management. In risk management, basic tenets emphasize understanding and mitigating risks rather than viewing them as advantageous. Speculative risks are associated with uncertain outcomes that can lead to either gains or losses and can complicate risk management efforts.

On the other hand, knowing your risk appetite is fundamental because it helps organizations determine the level of risk they are willing to accept in pursuit of their objectives. Additionally, treating insurance as a complement to loss control reinforces the idea that risk management encompasses prevention and mitigation strategies, rather than relying solely on insurance to cover potential losses. Considering the probabilities of loss is crucial too since it informs decision-making and prioritization of risk management efforts. Each of these tenets serves to enhance the effectiveness of risk management strategies, underscoring why viewing speculative risks as favorable does not fit within the foundational rules.