瑞达Rejda保险教材英文练习题Word下载.docx

瑞达Rejda保险教材英文练习题Word下载.docx

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D）thecauseofloss.

B

3）Aninsurancecompanyestimatesitsobjectiveriskfor10,000exposurestobe10percent.Assumingtheprobabilityoflossremainsthesame,whatwouldhappentotheobjectiveriskifthenumberofexposuresweretoincreaseto1million?

A）Itwoulddecreaseto1percent.

B）Itwoulddecreaseto5percent.

C）Itwouldremainthesame.

D）Itwouldincreaseto20percent.

A

4）Uncertaintybasedonaperson'

smentalconditionorstateofmindisknownas

A）objectiverisk.

B）subjectiverisk.

C）objectiveprobability.

D）subjectiveprobability.

5）Thelong-runrelativefrequencyofaneventbasedontheassumptionofaninfinitenumberofobservationswithnochangeintheunderlyingconditionsiscalled

A）objectiveprobability.

B）objectiverisk.

C）subjectiveprobability.

D）subjectiverisk.

6）Whichofthefollowingstatementsaboutaprioriprobabilitiesiscorrect?

A）Theyaresubjectiveprobabilitiesbasedonambiguityinthewayprobabilityisperceived.

B）Theyaresubjectiveprobabilitiesthatmayvaryamongindividualsbecauseoffactorssuchasage,gender,education,andtheuseofalcohol.

C）Theyareobjectiveprobabilitiesthatcanbedeterminedbydeductivereasoning.

D）Theyareobjectiveprobabilitiesthatcanbedeterminedbysubjectivereasoning.

7）Anindividual'

spersonalestimateofthechanceoflossis

A）anobjectiveprobability.

B）anobjectiverisk.

C）asubjectiveprobability.

D）anaprioriprobability.

8）Aperilis

A）amoralhazard.

B）thecauseofaloss.

C）aconditionwhichincreasesthechanceofaloss.

D）theprobabilitythatalosswilloccur.

9）Anearthquakeisanexampleofa

A）moralhazard.

B）peril.

C）physicalhazard.

D）objectiverisk.

10）Densefogthatincreasesthechanceofanautomobileaccidentisanexampleofa

A）speculativerisk.

D）moralhazard.

11）Fakinganaccidenttocollectinsuranceproceedsisanexampleofa

A）physicalhazard.

C）moralhazard.

D）attitudinalhazard.

Revised

12）Carelessnessorindifferencetoalossisanexampleof

B）objectiveprobability.

D

13）Somecharacteristicsofthejudicialsystemandregulatoryenvironmentincreasethefrequencyandseverityofloss.Thishazardiscalled

B）physicalhazard.

C）attitudinalhazard.

D）legalhazard.

14）TaylorTobaccoCompanyisconcernedthatthecompanymaybeheldliableinacourtoflawandorderedtopayalargedamageaward.Thecharacteristicsofthejudicialsystemthatincreasethefrequencyandseverityoflossesareknownas

B）particularrisk.

C）speculativerisk.

15）Aphrasethatencompassesallofthemajorrisksfacedbyabusinessfirmis

A）financialrisk.

B）speculativerisk.

C）enterpriserisk.

D）purerisk.

16）Whichofthefollowingstatementsaboutfinancialriskis（are）true?

I.Enterpriseriskdoesnotincludefinancialrisk.

II.Financialriskiseasilyaddressedthroughthepurchaseofinsurance.

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

17）AllofthefollowingareconsideredfinancialrisksEXCEPT

A）thedeclineinthevalueofabondportfoliobecauseofrisinginterestrates.

B）increasedcostofproductionbecauseofrisingcommodityprices.

C）lossofmoneybecauseofadversemovementsincurrencyexchangerates.

D）destructionofaproductionfacilitycausedbyanexplosion.

18）KatelynwasjustnamedRiskManagerofABCCompany.ShehasdecidedtocreateariskmanagementprogramwhichconsidersalloftherisksfacedbyABC-pure,speculative,operational,andstrategic-inasingleriskmanagementprogram.Suchaprogramiscalleda（n）

A）financialriskmanagementprogram.

B）enterpriseriskmanagementprogram.

C）fundamentalriskmanagementprogram.

D）consequentialriskmanagementprogram.

19）Apureriskisdefinedasasituationinwhichthereis

A）onlythepossibilityoflossornoloss.

B）onlythepossibilityofprofit.

C）apossibilityofneitherprofitnorloss.

D）apossibilityofeitherprofitorloss.

20）Theprematuredeathofanindividualisanexampleofa

A）purerisk.

C）fundamentalrisk.

D）physicalhazard.

21）Whichofthefollowingstatementsaboutspeculativerisksistrue?

A）Theyarealmostalwaysinsurablebyprivateinsurers.

B）Theyaremoreeasilypredictablethanpurerisks.

C）Theymaybenefitsocietyeventhoughalossoccurs.

D）Theyinvolveonlyachanceofloss.

22）Anautomobilethatisatotallossasaresultofacollisionisanexampleofwhichofthefollowingtypesofrisk?

I.Speculativerisk

II.Diversifiablerisk

23）AllofthefollowingareprogramstoinsurefundamentalrisksEXCEPT

A）federallysubsidizedfloodinsurance.

B）autophysicaldamageinsurance.

C）SocialSecurity.

D）unemploymentinsurance.

24）AllofthefollowingareexamplesofpersonalrisksEXCEPT

A）poorhealth.

B）unemployment.

C）prematuredeath.

D）flood.

25）Whichofthefollowingisareasonwhyprematuredeathmayresultineconomicinsecurity?

I.Additionalexpensesassociatedwithdeathmaybeincurred.

II.Theincomeofthedeceasedperson'

sfamilymaybeinadequatetomeetitsbasicneeds.

26）Whichofthefollowingareoftenconsequencesoflong-termdisability?

I.Continuingmedicalexpenses

II.Lossorreductionofemployeebenefits

27）AllofthefollowingareexamplesofdirectpropertylossesEXCEPT

A）thetheftofaperson'

sjewelry.

B）thedestructionofafirm'

smanufacturingplantbyanearthquake.

C）thecostofrentingasubstitutevehiclewhileacollision-damagedcarisbeingrepaired.

D）thevandalismofaperson'

sautomobile.

28）Theextraexpenseincurredbyabusinesstostayinoperationfollowingafireisanexampleofa（n）

A）fundamentalrisk.

C）directloss.

D）indirectloss.

29）Whichofthefollowingstatementsaboutliabilityrisksis（are）true?

I.Futureincomeandassetscanbeattachedtopayjudgmentsifinadequateinsuranceiscarried.

II.Thereisanupperlimitontheamountofloss.

30）AllofthefollowingareburdenstosocietybecauseofthepresenceofriskEXCEPT

A）Thesizeofanemergencyfundmustbeincreased.

B）Individualsmayprofitfromacceptingaspeculativerisk.

C）Societyisdeprivedofcertaingoodsandservices.

D）Mentalfearandworryarepresent.

31）Losscontrolincludeswhichofthefollowing?

I.Lossreduction

II.Lossprevention

32）Followinggoodhealthhabitscanbecategorizedas

A）lossprevention.

B）riskretention.

C）noninsurancetransfer.

D）personalinsurance.

33）Fromtheinsured'

sperspective,theuseofdeductiblesininsurancecontractsisanexampleof

A）risktransfer.

B）losscontrol.

C）riskavoidance.

D）riskretention.

34）Theuseoffire-resistivematerialswhenconstructingabuildingisanexampleof

35）AllofthefollowingstatementsaboutriskretentionaretrueEXCEPT

A）Itmaybeusedintentionallyifcommercialinsuranceisunavailable.

B）Itmaybeusedpassivelybecauseofignorance.

C）Itsuseismostappropriateforlow-frequency,high-severitytypesofrisks.

D）Itsuseresultsincostsavingsiflossesarelessthanthecostofinsurance.

36）Allofthefollowingaremethodsofnonins