瑞达 Rejda 保险教材英文练习题04Word格式文档下载.docx

1、I. Traditionally, risk management was limited in scope to speculative loss exposures.II. In the 1990s, some businesses began to expand the scope of risk management to include financial risks.A） I onlyB） II onlyC） both I and IID） neither I nor II B3） Mid-States Beef is a commercial feedlot business.

2、Currently, the company has over 10,000 cattle in feedlots. Mid-States is concerned that the price of corn, the grain fed to the cattle, will increase significantly. The risk that the price of corn may increase and harm the profitability of Mid-States Beefs operations is a（n）A） currency exchange rate

3、 risk.B） property risk.C） commodity price risk.D） interest rate risk.4） An integrated risk management program is a risk management program which combinesA） pure and speculative risks.B） property and liability risks.C） personnel-related risk and property risk. D） direct and indirect loss risk. A5） Re

4、gional Airline （RA） spends millions of dollars each year on jet fuel. The company also has significant liability exposures. RA can retain a large portion of its liability exposure if fuel costs are low. The company can pay high fuel costs if retained liability losses are low. RA cannot, however, abs

5、orb both high fuel costs and high retained liability claims. RAs insurer designed an insurance program where the insurer pays only if both contingencies （high fuel costs and high retained liability claims） occur. The contract the insurer designed is called a（n）A） double indemnity rider.B） double tri

6、gger option.C） multiple protection policy.D） other insurance provision. Revised6） Which statement is （are） true with respect to enterprise risk management programs?I. They address traditional property, liability, and personnel loss exposures.II. They do not address financial risks.7） A comprehensive

7、 risk management program that addresses an organizations pure risks, speculative risks, strategic risks, and operational risks is called a（n）A） risk management information system.B） financial risk management plan.C） speculative risk management plan.D） enterprise risk management plan. D8） The propert

8、y and liability insurance industry is characterized by a repetitive pattern of loose underwriting standards with low premiums followed by tight underwriting standards with high premiums. This repetitive pattern is called theA） underwriting by exception method.B） business cycle.C） underwriting cycle.

9、D） account underwriting method.9） Which statement is （are） true regarding property and liability insurance market conditions?I. Premiums are high when the insurance market is hard.II. Underwriting standards are tight when the insurance market is soft.10） Which of the following statements is true reg

10、arding insurance market conditions and underwriting results?A） A combined ratio greater than one （or 100 percent） indicates profitable underwriting.B） In a soft insurance market, more retention is used than in a hard insurance market.C） Insurance rates are high and underwriting standards are tight w

11、hen the insurance market is D） Property and liability insurance premiums and underwriting standards do not fluctuate over time.11） The relative level of surplus in the insurance industry is called the industrysA） capacity.B） liabilities.C） reserves.D） admitted assets.12） Which of the following state

12、ments is （are） true regarding investment returns and the underwriting cycle?I. Investment returns have no impact upon the underwriting cycle.II. Investment returns can lengthen the duration of a soft market by offsetting underwriting losses.13） A large property and liability insurance company merged

13、 with a bank and then acquired a stock brokerage company. This type of merger and acquisition activity is categorized asA） insurance company consolidation.B） cross-industry consolidation.C） financial risk management.D） insurance brokerage consolidation.14） A company has a fleet of 200 vehicles. On a

14、verage, 50 vehicles per year experience property damage. What is the probability that any vehicle will be damaged in any given year?A） 10 percentB） 20 percentC） 25 percentD） 50 percent15） RST Company has production facilities in Salt Lake City and Cleveland. The probability that in any given year a

15、fire will damage the production facility in Salt Lake City is 5 percent. The probability that in any given year a fire will damage the Cleveland production facility is 4 percent. What is the probability that BOTH production facilities will be damaged by fire in any given year?A） 0.20 percentB） 2.00

16、percentC） 4.50 percentD） 9.00 percent16） RST Company has production facilities in Salt Lake City and Cleveland. The probability that in any given year a fire will damage the production facility in Salt Lake City is 5 percent. The probability that in any given year a fire will damage the Cleveland pr

17、oduction facility is 4 percent. What is the probability that AT LEAST ONE of the production facilities will be damaged by fire in any given year?C） 8.80 percent17） Some events cannot occur together because the occurrence of one event makes the occurrence of the second event impossible. Such events a

18、re calledA） dependent events.B） independent events.C） conditional events.D） mutually exclusive events.18） Two buildings are located close together at a production facility. The probability that either of these buildings will experience a fire loss is 4 percent. However, if one building has a fire, t

19、he probability that the second building will have a fire is 60 percent. What is the probability that both buildings will have a fire?A） 1.6 percentB） 2.4 percentC） 8.0 percentD） 64.0 percent19） Which of the following statements is （are） true with regard to probability analysis?I. If two events are i

20、ndependent, the occurrence of one event does not affect the occurrence of the second event.II. If two events are dependent, the occurrence of one event affects the occurrence of the second event.20） Jane is risk manager of ABC Manufacturing Company. She is trying to decide whether to self-insure her

21、 companys workers compensation exposure or to purchase insurance. Jane would like to use regression analysis to predict the number of workers compensation claims that will occur next year. The number of claims will be the dependent variable in the regression. All of the following would be reasonable

22、 independent variables to use EXCEPTA） number of employees.B） number of hours worked.C） total assets.D） payroll.21） A method of characterizing the relationship between two or more variables and then using the characterization to make a prediction is calledA） loss analysis.B） time value of money anal

23、ysis.C） regression analysis.D） capital budgeting analysis.22） A table showing losses that could occur and the corresponding chance that each loss could occur is called anA） underwriting cycle.B） capital budget.C） loss distribution.D） risk map.23） Which of the following statements is （are） true with

24、respect to the time value of money?I. Money received today is worth more than the same amount of money received in the future.II. The present value of a future amount is greater than the future amount.24） Calculating the present value of a future amount is calledA） interpolating.B） discounting.C） co

25、mpounding.D） regression analysis.25） The process of determining which set of investments in plant and equipment to undertake is calledA） regression analysis.B） loss forecasting.C） time value of money analysisD） capital budgeting.26） Which of the following statements is （are） true regarding the net present value of a capital investment?I. Net present value does not consider time value of money.II. A positive net present value represents an increase in value to the firm.27） Millie is risk manager of JKL Company. She is considering an investm