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