瑞达 Rejda 保险教材英文练习题04Word格式文档下载.docx

瑞达 Rejda 保险教材英文练习题04Word格式文档下载.docx

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I.Traditionally,riskmanagementwaslimitedinscopetospeculativelossexposures.

II.Inthe1990s,somebusinessesbegantoexpandthescopeofriskmanagementtoincludefinancialrisks.

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

B

3）Mid-StatesBeefisacommercialfeedlotbusiness.Currently,thecompanyhasover10,000cattleinfeedlots.Mid-Statesisconcernedthatthepriceofcorn,thegrainfedtothecattle,willincreasesignificantly.TheriskthatthepriceofcornmayincreaseandharmtheprofitabilityofMid-StatesBeef'

soperationsisa（n）

A）currencyexchangeraterisk.

B）propertyrisk.

C）commoditypricerisk.

D）interestraterisk.

4）Anintegratedriskmanagementprogramisariskmanagementprogramwhichcombines

A）pureandspeculativerisks.

B）propertyandliabilityrisks.

C）personnel-relatedriskandpropertyrisk.

D）directandindirectlossrisk.

A

5）RegionalAirline（RA）spendsmillionsofdollarseachyearonjetfuel.Thecompanyalsohassignificantliabilityexposures.RAcanretainalargeportionofitsliabilityexposureiffuelcostsarelow.Thecompanycanpayhighfuelcostsifretainedliabilitylossesarelow.RAcannot,however,absorbbothhighfuelcostsandhighretainedliabilityclaims.RA'

sinsurerdesignedaninsuranceprogramwheretheinsurerpaysonlyifbothcontingencies（highfuelcostsandhighretainedliabilityclaims）occur.Thecontracttheinsurerdesignediscalleda（n）

A）doubleindemnityrider.

B）doubletriggeroption.

C）multipleprotectionpolicy.

D）otherinsuranceprovision.

Revised

6）Whichstatementis（are）truewithrespecttoenterpriseriskmanagementprograms?

I.Theyaddresstraditionalproperty,liability,andpersonnellossexposures.

II.Theydonotaddressfinancialrisks.

7）Acomprehensiveriskmanagementprogramthataddressesanorganization'

spurerisks,speculativerisks,strategicrisks,andoperationalrisksiscalleda（n）

A）riskmanagementinformationsystem.

B）financialriskmanagementplan.

C）speculativeriskmanagementplan.

D）enterpriseriskmanagementplan.

D

8）Thepropertyandliabilityinsuranceindustryischaracterizedbyarepetitivepatternoflooseunderwritingstandardswithlowpremiumsfollowedbytightunderwritingstandardswithhighpremiums.Thisrepetitivepatterniscalledthe

A）underwritingbyexceptionmethod.

B）businesscycle.

C）underwritingcycle.

D）accountunderwritingmethod.

9）Whichstatementis（are）trueregardingpropertyandliabilityinsurancemarketconditions?

I.Premiumsarehighwhentheinsurancemarketis"

hard."

II.Underwritingstandardsaretightwhentheinsurancemarketis"

soft."

10）Whichofthefollowingstatementsistrueregardinginsurancemarketconditionsandunderwritingresults?

A）Acombinedratiogreaterthanone（or100percent）indicatesprofitableunderwriting.

B）Ina"

soft"

insurancemarket,moreretentionisusedthanina"

hard"

insurancemarket.

C）Insuranceratesarehighandunderwritingstandardsaretightwhentheinsurancemarketis"

D）Propertyandliabilityinsurancepremiumsandunderwritingstandardsdonotfluctuateovertime.

11）Therelativelevelofsurplusintheinsuranceindustryiscalledtheindustry'

s

A）capacity.

B）liabilities.

C）reserves.

D）admittedassets.

12）Whichofthefollowingstatementsis（are）trueregardinginvestmentreturnsandtheunderwritingcycle?

I.Investmentreturnshavenoimpactupontheunderwritingcycle.

II.Investmentreturnscanlengthenthedurationofasoftmarketbyoffsettingunderwritinglosses.

13）Alargepropertyandliabilityinsurancecompanymergedwithabankandthenacquiredastockbrokeragecompany.Thistypeofmergerandacquisitionactivityiscategorizedas

A）insurancecompanyconsolidation.

B）cross-industryconsolidation.

C）financialriskmanagement.

D）insurancebrokerageconsolidation.

14）Acompanyhasafleetof200vehicles.Onaverage,50vehiclesperyearexperiencepropertydamage.Whatistheprobabilitythatanyvehiclewillbedamagedinanygivenyear?

A）10percent

B）20percent

C）25percent

D）50percent

15）RSTCompanyhasproductionfacilitiesinSaltLakeCityandCleveland.TheprobabilitythatinanygivenyearafirewilldamagetheproductionfacilityinSaltLakeCityis5percent.TheprobabilitythatinanygivenyearafirewilldamagetheClevelandproductionfacilityis4percent.WhatistheprobabilitythatBOTHproductionfacilitieswillbedamagedbyfireinanygivenyear?

A）0.20percent

B）2.00percent

C）4.50percent

D）9.00percent

16）RSTCompanyhasproductionfacilitiesinSaltLakeCityandCleveland.TheprobabilitythatinanygivenyearafirewilldamagetheproductionfacilityinSaltLakeCityis5percent.TheprobabilitythatinanygivenyearafirewilldamagetheClevelandproductionfacilityis4percent.WhatistheprobabilitythatATLEASTONEoftheproductionfacilitieswillbedamagedbyfireinanygivenyear?

C）8.80percent

17）Someeventscannotoccurtogetherbecausetheoccurrenceofoneeventmakestheoccurrenceofthesecondeventimpossible.Sucheventsarecalled

A）dependentevents.

B）independentevents.

C）conditionalevents.

D）mutuallyexclusiveevents.

18）Twobuildingsarelocatedclosetogetherataproductionfacility.Theprobabilitythateitherofthesebuildingswillexperienceafirelossis4percent.However,ifonebuildinghasafire,theprobabilitythatthesecondbuildingwillhaveafireis60percent.Whatistheprobabilitythatbothbuildingswillhaveafire?

A）1.6percent

B）2.4percent

C）8.0percent

D）64.0percent

19）Whichofthefollowingstatementsis（are）truewithregardtoprobabilityanalysis?

I.Iftwoeventsareindependent,theoccurrenceofoneeventdoesnotaffecttheoccurrenceofthesecondevent.

II.Iftwoeventsaredependent,theoccurrenceofoneeventaffectstheoccurrenceofthesecondevent.

20）JaneisriskmanagerofABCManufacturingCompany.Sheistryingtodecidewhethertoself-insurehercompany'

sworkerscompensationexposureortopurchaseinsurance.Janewouldliketouseregressionanalysistopredictthenumberofworkerscompensationclaimsthatwilloccurnextyear.Thenumberofclaimswillbethedependentvariableintheregression.AllofthefollowingwouldbereasonableindependentvariablestouseEXCEPT

A）numberofemployees.

B）numberofhoursworked.

C）totalassets.

D）payroll.

21）Amethodofcharacterizingtherelationshipbetweentwoormorevariablesandthenusingthecharacterizationtomakeapredictioniscalled

A）lossanalysis.

B）timevalueofmoneyanalysis.

C）regressionanalysis.

D）capitalbudgetinganalysis.

22）Atableshowinglossesthatcouldoccurandthecorrespondingchancethateachlosscouldoccuriscalledan

A）underwritingcycle.

B）capitalbudget.

C）lossdistribution.

D）riskmap.

23）Whichofthefollowingstatementsis（are）truewithrespecttothetimevalueofmoney?

I.Moneyreceivedtodayisworthmorethanthesameamountofmoneyreceivedinthefuture.

II.Thepresentvalueofafutureamountisgreaterthanthefutureamount.

24）Calculatingthepresentvalueofafutureamountiscalled

A）interpolating.

B）discounting.

C）compounding.

D）regressionanalysis.

25）Theprocessofdeterminingwhichsetofinvestmentsinplantandequipmenttoundertakeiscalled

A）regressionanalysis.

B）lossforecasting.

C）timevalueofmoneyanalysis

D）capitalbudgeting.

26）Whichofthefollowingstatementsis（are）trueregardingthenetpresentvalueofacapitalinvestment?

I.Netpresentvaluedoesnotconsidertimevalueofmoney.

II.Apositivenetpresentvaluerepresentsanincreaseinvaluetothefirm.

27）MillieisriskmanagerofJKLCompany.Sheisconsideringaninvestm