瑞达 Rejda 保险教材英文练习题02.docx

瑞达 Rejda 保险教材英文练习题02.docx

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瑞达Rejda保险教材英文练习题02

PrinciplesofRiskManagementandInsurance,11e（Rejda）

Chapter2InsuranceandRisk

1）AllofthefollowingarecharacteristicsofinsuranceEXCEPT

A）riskavoidance.

B）poolingoflosses.

C）paymentoffortuitouslosses.

D）indemnification.

Answer:

A

QuestionStatus:

PreviousEdition

2）Whichofthefollowingisimpliedbythepoolingoflosses?

A）sharingoflossesbyanentiregroup

B）inabilitytopredictlosseswithanydegreeofaccuracy

C）substitutionofactuallossforaverageloss

D）increaseofobjectiverisk

Answer:

A

QuestionStatus:

PreviousEdition

3）Accordingtothelawoflargenumbers,whathappensasthenumberofexposureunitsincreases?

A）Actualresultswillincreasinglydifferfromprobableresults.

B）Actualresultswillmorecloselyapproachprobableresults.

C）Nondiversifiableriskwilldecrease.

D）Objectiveriskwillincrease.

Answer:

B

QuestionStatus:

Revised

4）Accordingtothelawoflargenumbers,whatshouldhappenasaninsurerincreasesthenumberofunitsinsured?

A）Theamounttheinsurerexpectstopayinclaimsshoulddecrease.

B）Underwritingexpensesshoulddecrease.

C）Actualresultswillmorecloselyapproachexpectedresults.

D）Theinsurer'sprofitabilityshouldbecomemorevariable.

Answer:

C

QuestionStatus:

PreviousEdition

5）Characteristicsofafortuitouslossincludewhichofthefollowing?

I.Thelossiscertaintooccur.

II.Thelossoccursasaresultofchance.

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

B

QuestionStatus:

PreviousEdition

6）Fromtheviewpointoftheinsurer,allofthefollowingarecharacteristicsofanideallyinsurableriskEXCEPT

A）Thelossmustbeaccidental.

B）Thelossshouldbecatastrophic.

C）Thepremiummustbeeconomicallyfeasible.

D）Theremustbealargenumberofexposureunits.

Answer:

B

QuestionStatus:

Revised

7）Fromthestandpointoftheinsurer,allofthefollowingarecharacteristicsofanideallyinsurableriskEXCEPT

A）Thelossmustbeunintentional.

B）Thechanceoflossmustbecalculable.

C）Thelossmustbeindeterminable.

D）Thelossmustbemeasurable.

Answer:

C

QuestionStatus:

Revised

8）Whyisalargenumberofexposureunitsgenerallyrequiredbeforeapureriskisinsurable?

A）Itpreventstheinsurerfromlosingmoney.

B）Iteliminatesintentionallosses.

C）Itminimizesmoralhazard.

D）Itenablestheinsurertopredictlossesmoreaccurately.

Answer:

D

QuestionStatus:

PreviousEdition

9）Therequirementthatlossesshouldbeaccidentalandunintentionalinordertobeinsurableresultsinwhichofthefollowing?

I.Decreaseinmoralhazard

II.Moreaccuratepredictionoffuturelosses

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

C

QuestionStatus:

PreviousEdition

10）Whichofthefollowingisimpliedbytherequirementthatalossshouldbedeterminableandmeasurabletobeinsurable?

I.Thelossmustbedefiniteastoplace.

II.Thelossmustbedefiniteastoamount.

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

C

QuestionStatus:

PreviousEdition

11）Methodsbywhichinsurersmayminimizeoravoidcatastrophiclossesincludewhichofthefollowing?

I.Theuseofreinsurance

II.Concentratingcoveragewritteninonegeographicregion

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

A

QuestionStatus:

PreviousEdition

12）Whichofthefollowingtypesofrisksbestmeetstherequirementsforbeinginsurablebyprivateinsurers?

A）marketrisks

B）propertyrisks

C）financialrisks

D）politicalrisks

Answer:

B

QuestionStatus:

PreviousEdition

13）Reasonswhymarket,financial,andproductionrisksareoftenuninsurableincludewhichofthefollowing?

I.Thepotentialtoproduceacatastrophiclossisgreat.

II.Thechanceoflosscannotbeaccuratelyestimated.

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

C

QuestionStatus:

PreviousEdition

14）Whichofthefollowingtypesofrisksisnormallyuninsurablebyprivateinsurers?

A）personalrisks

B）propertyrisks

C）liabilityrisks

D）marketrisks

Answer:

D

QuestionStatus:

PreviousEdition

15）Whichofthefollowingisaresultofadverseselection?

A）Theinsurer'sfinancialresultswillbesubstantiallyimproved.

B）Personsmostlikelytohavelossesarealsomostlikelytoseekinsuranceatstandardrates.

C）Itisunnecessaryfortheinsurancecompanytouseunderwriting.

D）Insurancecanbewrittenonlybythefederalgovernment.

Answer:

B

QuestionStatus:

PreviousEdition

16）Thetendencyforunhealthypeopletoseeklifeorhealthinsuranceatstandardratesisanexampleof

A）moralhazard.

B）fundamentalrisk.

C）attitudinalhazard.

D）adverseselection.

Answer:

D

QuestionStatus:

Revised

17）Whichofthefollowingstatementsregardinginsuranceandgamblingis（are）true?

I.Insuranceisusedtohandleexistingpurerisks,whilegamblingcreatesanewspeculativerisk.

II.Insuranceusuallyinvolvesriskavoidance,whilegamblingtypicallyinvolvesonlyriskreduction.

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

A

QuestionStatus:

PreviousEdition

18）Inadditiontomarketinglifeinsurance,lifeinsurerstypicallysellwhichofthefollowingproducts?

I.Retirementannuities

II.Disabilityincomeinsurance

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

C

QuestionStatus:

PreviousEdition

19）Inlandmarineinsuranceprovidescoveragefor

A）goodsbeingshippedonland.

B）prematuredeathofmembersofthearmedforces.

C）goodsbeingshippedonocean-goingvessels.

D）liabilityexposuresofnonprofitorganizations.

Answer:

A

QuestionStatus:

PreviousEdition

20）AllofthefollowingareclassifiedascasualtyinsuranceEXCEPT

A）lifeinsurance.

B）generalliabilityinsurance.

C）workerscompensationinsurance.

D）burglaryandtheftinsurance.

Answer:

A

QuestionStatus:

PreviousEdition

21）Whichofthefollowingisaformofcasualtyinsurance?

A）fireinsurance

B）generalliabilityinsurance

C）inlandmarineinsurance

D）oceanmarineinsurance

Answer:

B

QuestionStatus:

PreviousEdition

22）Theterm"multiple-lineinsurance"isusedtodescribeatypeofinsurancethatcombineswhichofthefollowingcoveragesintoasinglecontract?

A）workerscompensationandhealthinsurance

B）lifeanddisabilityinsurance

C）propertyandcasualtyinsurance

D）pensionsandannuities

Answer:

C

QuestionStatus:

PreviousEdition

23）AllofthefollowingarebenefitstosocietythatresultfrominsuranceEXCEPT

A）lessworryandfear.

B）eliminationofmoralhazard.

C）indemnificationforloss.

D）lossprevention.

Answer:

B

QuestionStatus:

PreviousEdition

24）Whichofthefollowingstatementsabouttheinsuranceindustryasasourceofinvestmentfundsis（are）true?

I.Thesefundsresultinalowercostofcapitalthanwouldexistintheabsenceofinsurance.

II.Thesefundstendtopromoteeconomicgrowthandfullemployment.

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

C

QuestionStatus:

PreviousEdition

25）AllofthefollowingaresocialcostsassociatedwithinsuranceEXCEPT

A）insurancecompanyoperatingexpenses.

B）fraudulentclaims.

C）inflatedclaims.

D）increasedcostofcapital.

Answer:

D

QuestionStatus:

PreviousEdition

26）Agroupoffarmersagreedthatifanyfarmersufferedapropertyloss,thelosswouldbespreadovertheentiregroup.Inthisway,eachfarmerisresponsiblefortheaveragelossofthegroupratherthantheactuallossthatthefarmersustained.Whichcharacteristicofinsuranceisembodiedinthisagreement?

A）poolingoflosses

B）fortuitouslosses

C）riskavoidance

D）indemnification

Answer:

A

QuestionStatus:

PreviousEdition

27）XYZInsuranceCompanywritescoverageformostperilswhichcandamageproperty.XYZ,however,doesnotwritefloodinsuranceonpropertylocatedinfloodplains.WhichrequirementofanideallyinsurableriskmightbeviolatedifXYZwrotefloodinsuranceonpropertylocatedinfloodplains?

A）Theremustbealargenumberofsimilarexposureunits.

B）Thelossshouldnotbecatastrophic.

C）Thechanceoflossmustbecalculable.

D）Thelossesmustbedeterminableandmeasurable.

Answer:

B

QuestionStatus:

Revised

28）ABCApplianceoffersawarrantyrequiringanannualfee.Thewarrantymaybepurchasedatthetimeofsaleoratanytimewithinthefirstyearaftertheappliancewaspurchased.Thewarrantyfeeafterthedateofpurchaseistwicethetime-of-purchasefee.Whenaskedwhythefeewashigherafterthedateofpurchase,ABC'spresidentsaid,"Buyingawarrantyisvoluntary.We'venotedthatthosewhobuythewarrantyafterthepurchasedatehaveagreaterneedforservice."ChargingthesamerateoralowerrateafterthedateofpurchasewouldexposeABCtowhatproblemthatalsoimpactsprivateinsurers?

A）excessivepremiums

B）reducedclaims

C）badinvestments

D）adverseselection

Answer:

D

QuestionStatus:

PreviousEdition

29）AlphaInsuranceCompanyinsuresabroadrangeofrisks,includingwhateverisnotcoveredbyfire,marine,andlifeinsurers.WhichtermbestdescribesthewiderangeofriskswrittenbyAlphaInsurance?

A）fidelityinsurance

B）casualtyinsurance

C）socialinsurance

D）propertyinsurance

Answer:

B

QuestionStatus:

PreviousEdition

30）LMNInsurancemarketshomeownersinsurance.TheLMNhomeownerspolicycombinespropertyandcasualtyinsuranceinthesamecontract.Insurancepoliciescombiningpropertyandcasualtycoverageinthesamecontractarecalled

A）mono-linepolicies.

B）multi-yearpolicies.

C）multiple-linepolicies.

D）manuscriptpolicies.

Answer:

C

QuestionStatus:

PreviousEdition

31）Onebranchofgovernmentinsuranceprogramshasanumberofdistinguishingcharacteristics.Theseprogramsarecompulsory,theyarefinancedbymandatorycontributionsratherthangeneraltaxrevenues,andbenefitsareweightedinfavoroflow-incomegroups.Thesegovernmentinsuranceprogramsarecalled

A）welfareprograms.

B）socialinsuranceprograms.

C）casualtyinsuranceprograms.

D）privateinsuranceprograms.

Answer:

B

QuestionStatus:

PreviousEdition

32）Ginawouldliketobuyahouse.Shewillpay10percentofthecostofthehouseasadownpaymentandborrowtheother90percentfromamortgagelender.Thehomewillserveascollateralfortheloan.ThelenderrequiresGinatopurchasepropertyinsuranceonthehomesothatthecollateralsupportingtheloanwillbeprotected.Thisscenarioillustrateswhichofthefollowingbenefitsofinsurancetosociety?

A）enhancementofcredit

B）reductionoffearandworry

C）sourceofinvestmentfunds

D）incentivesforlossprevention

Answer:

A

QuestionStatus:

PreviousEdition

33）ABCInsuranceCompanycalculatedtheamountthatitexpectedtopayinclaimsundereachpolicysold.Ratherthansellingtheinsurancefortheamountitexpectedtopayinclaims,ABCaddedanallowancetocoverthecostofdoingbusiness,includingcommissions,taxes,andacquisitionexpenses.Thisallowanceiscalleda（n）

A）policyownerdividend.

B）premium.

C）expenseloading.

D）ratecredit.

Answer:

C

QuestionStatus:

PreviousEdition

34）JKLInsuranceCompanyestimatesthat14outofevery100homeownersitinsureswillfil