Which of the following is NOT one of the six qualifications that determine whether a risk is insurable?

The correct answer is based on the fundamental principles that define insurable risks in the insurance industry. To qualify as insurable, a risk must meet several criteria, including being definable, associated with unexpected losses, and capable of resulting in substantial losses.

When identifying whether a risk is insurable, the element of "unexpected gains" does not fit within this framework. Insurance is fundamentally about managing potential losses, and the concept of unexpectedly gaining from a risk goes against the basic principles of risk transfer and protection that insurance provides. Insurers focus on quantifying potential losses that can occur under specified, defined circumstances, rather than gains.

Thus, the presence of definable risks, unexpected losses, and substantial losses highlights the need for systematic and predictable outcomes in insurance, while unexpected gains would not contribute to an understanding of risk management in this context.