1、瑞达Rejda保险教材英文练习题P r i n ci pl es of R i sk M a n a g em en t a n d I n su r a n c e, 1 1 e ( R ej d a )Chapter 1 Risk in Our Society1)Traditionally, risk has been defined asA)any situation in which the probability of loss is one.B)any situation in which the probability of loss is zero.C)uncertainty
2、concerning the occurrence of loss.D)the probability of a loss occurring. Answer: CQuestion Status: Previous Edition2)Objective risk is defined asA)the probability of loss.B)the relative variation of actual loss from expected loss.C)uncertainty based on a persons mental condition or state of mind.D)t
3、he cause of loss.Answer: BQuestion Status: Previous Edition3)An insurance company estimates its objective risk for 10,000 exposures to be 10 percent. Assuming the probability of loss remains the same, what would happen to the objective risk if the number of exposures were to increase to 1 million?A)
4、It would decrease to 1 percent.B)It would decrease to 5 percent.C)It would remain the same.D)It would increase to 20 percent. Answer: AQuestion Status: Previous Edition4)Uncertainty based on a persons mental condition or state of mind is known asA)objective risk.B)subjective risk.C)objective probabi
5、lity.D)subjective probability. Answer: BQuestion Status: Previous Edition5)The long-run relative frequency of an event based on the assumption of an infinite number of observations with no change in the underlying conditions is calledA)objective probability.B)objective risk.C)subjective probability.
6、D)subjective risk.Answer: AQuestion Status: Previous Edition6)Which of the following statements abouta priori probabilities is correct?A)They are subjective probabilities based on ambiguity in the way probability is perceived.B)They are subjective probabilities that may vary among individuals becaus
7、e of factors such as age, gender, education, and the use of alcohol.C)They are objective probabilities that can be determined by deductive reasoning.D)They are objective probabilities that can be determined by subjective reasoning. Answer: CQuestion Status: Previous Edition7)An individuals personal
8、estimate of the chance of loss isA)an objective probability.B)an objective risk.C)a subjective probability.D)an a priori probability. Answer: CQuestion Status: Previous Edition8)A peril isA)a moral hazard.B)the cause of a loss.C)a condition which increases the chance of a loss.D)the probability that
9、 a loss will occur. Answer: BQuestion Status: Previous Edition9)An earthquake is an example of aA)moral hazard.B)peril.C)physical hazard.D)objective risk.Answer: BQuestion Status: Previous Edition10)Dense fog that increases the chance of an automobile accident is an example of aA)speculative risk.B)
10、peril.C)physical hazard.D)moral hazard.Answer: CQuestion Status: Previous Edition11)Faking an accident to collect insurance proceeds is an example of aA)physical hazard.B)objective risk.C)moral hazard.D)attitudinal hazard.Answer: CQuestion Status: Revised12)Carelessness or indifference to a loss is
11、an example ofA)physical hazard.B)objective probability.C)moral hazard.D)attitudinal hazard.Answer: DQuestion Status: Revised13)Some characteristics of the judicial system and regulatory environment increase the frequency and severity of loss. This hazard is calledA)moral hazard.B)physical hazard.C)a
12、ttitudinal hazard.D)legal hazard.Answer: DQuestion Status: Revised14)Taylor Tobacco Company is concerned that the company may be held liable in a court of law and ordered to pay a large damage award. The characteristics of the judicial system that increase the frequency and severity of losses are kn
13、own asA)moral hazard.B)particular risk.C)speculative risk.D)legal hazard.Answer: DQuestion Status: Previous Edition15)A phrase that encompasses all of the major risks faced by a business firm isA)financial risk.B)speculative risk.C)enterprise risk.D)pure risk.Answer: CQuestion Status: Previous Editi
14、on16)Which of the following statements about financial risk is (are) true?I.Enterprise risk does not include financial risk.II.Financial risk is easily addressed through the purchase of insurance.A)I onlyB)II onlyC)both I and IID)neither I nor II Answer: DQuestion Status: Previous Edition17)All of t
15、he following are considered financial risks EXCEPTA)the decline in the value of a bond portfolio because of rising interest rates.B)increased cost of production because of rising commodity prices.C)loss of money because of adverse movements in currency exchange rates.D)destruction of a production facility caused by an explosion. Answer: DQuestion Status: Previous Edition18)Katelyn was just named Risk Manager of ABC Company. She has decided to create a risk management program which considers all of the risks faced by ABC-pure, speculative, operational, and str
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