瑞达rejda保险教材英文练习题03.docx
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瑞达rejda保险教材英文练习题03.docx
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瑞达rejda保险教材英文练习题03
PrinciplesofRiskManagementandInsurance,11e(Rejda)
Chapter3IntroductiontoRiskManagement
1)Riskmanagementisconcernedwith
A)theidentificationandtreatmentoflossexposures.
B)themanagementofspeculativerisksonly.
C)themanagementofpurerisksthatareuninsurable.
D)thepurchaseofinsuranceonly.
Answer:
A
QuestionStatus:
PreviousEdition
2)Asituationorcircumstanceinwhichalossispossible,regardlessofwhetheralossoccurs,iscalleda
A)deductible.
B)lossexposure.
C)lossavoidance.
D)peril.
Answer:
B
QuestionStatus:
PreviousEdition
3)AllofthefollowingareriskmanagementobjectivespriortotheoccurrenceoflossEXCEPT
A)analysisofthecostofdifferenttechniquesforhandlinglosses.
B)continuingoperationsafteraloss.
C)reductionofanxiety.
D)meetingexternallyimposedobligations.
Answer:
B
QuestionStatus:
PreviousEdition
4)Prelossobjectivesofriskmanagementincludewhichofthefollowing
I.Preparingforpotentiallossesinthemosteconomicalway.
II.Reductionofanxiety.
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
C
QuestionStatus:
PreviousEdition
5)Ariskmanagerisconcernedwith
I.Identifyingpotentiallosses.
II.Selectingtheappropriatetechniquesfortreatinglosses.
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
C
QuestionStatus:
PreviousEdition
6)SourcesofinformationthatcanbeusedbyariskmanagertoidentifypurelossexposuresincludeallofthefollowingEXCEPT
A)riskanalysisquestionnaires.
B)currencyexchangerates.
C)physicalinspections.
D)pastlosses.
Answer:
B
QuestionStatus:
PreviousEdition
7)Lossseverityisdefinedasthe
A)probablesizeofthelosseswhichmayoccurduringsomeperiod.
B)probablenumberoflosseswhichmayoccurduringsomeperiod.
C)probabilitythatanyparticularpieceofpropertymaybetotallydestroyed.
D)probabilitythataliabilityjudgmentmayexceedafirm'snetworth.
Answer:
A
QuestionStatus:
PreviousEdition
8)Lossfrequencyisdefinedasthe
A)probablesizeofthelossesthatmayoccurduringsomeperiod.
B)probablenumberoflossesthatmayoccurduringsomeperiod.
C)probabilitythatanyparticularpieceofpropertymaybetotallydestroyed.
D)probabilitythataliabilityjudgmentmayexceedafirm'snetworth.
Answer:
B
QuestionStatus:
PreviousEdition
9)Theworstlossthatcouldeverhappentoafirmisreferredtoasthe
A)maximumpossibleloss.
B)probablemaximumloss.
C)frequencyofloss.
D)severityofloss.
Answer:
A
QuestionStatus:
PreviousEdition
10)Theworstlossthatislikelytohappenisreferredtoasthe
A)maximumpossibleloss.
B)probablemaximumloss.
C)frequencyofloss.
D)severityofloss.
Answer:
B
QuestionStatus:
PreviousEdition
11)AllofthefollowingstatementsaboutavoidancearetrueEXCEPT
A)Certainlossexposuresareneveracquired.
B)Certainlossexposuresmaybeabandoned.
C)Thechanceoflossforcertainlossexposuresmaybereducedtozero.
D)Itcanbeusedforanylossexposurefacingafirm.
Answer:
D
QuestionStatus:
PreviousEdition
12)Abandoninganexistinglossexposureisanexampleof
A)avoidance.
B)retention.
C)noninsurancetransfer.
D)insurancetransfer.
Answer:
A
QuestionStatus:
PreviousEdition
13)Whichofthefollowingconditionsis(are)appropriateforusingretention
I.Lossesaredifficulttopredict.
II.Theworstpossiblelossisnotserious.
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
B
QuestionStatus:
PreviousEdition
14)Whichofthefollowingstatementsregardingtheuseofretentionis(are)true
I.Retentionisbestusedforlossexposuresthathavealowfrequencyandahighseverity.
II.Afinanciallystrongfirmcanhaveahigherretentionlevelthanafirmwhosefinancialpositionisweak.
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
B
QuestionStatus:
PreviousEdition
15)AllofthefollowingstatementsaboutcaptiveinsurersaretrueEXCEPT
A)Theymayactasaprofitcenterbyinsuringpartiesotherthantheparentcompany.
B)Theyprovideawaytoobtaintypesofinsurancethatmaybeunavailablefromcommercialinsurers.
C)Theyincreasethevolatilityoftheparentcompany'searnings.
D)Theymakeiteasierforafirmtohaveaccesstoreinsurance.
Answer:
C
QuestionStatus:
PreviousEdition
16)Whichofthefollowingstatementsaboutself-insuranceis(are)true
I.Itisaformofplannedretention.
II.Statelawusuallyprohibitsitsuseforworkerscompensation.
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
A
QuestionStatus:
PreviousEdition
17)AllofthefollowingarepotentialadvantagesofretentionEXCEPT
A)lowerexpenses.
B)increasedcashflow.
C)encouragementoflossprevention.
D)protectionfromcatastrophiclosses.
Answer:
D
QuestionStatus:
PreviousEdition
18)Arestaurantownerleasedameetingroomattherestauranttoasecondparty.Theleasespecifiedthatthesecondparty,nottherestaurantowner,wouldberesponsibleforanyliabilityarisingoutoftheuseofthemeetingroom,andthattherestaurantownerwouldbe"heldharmless"foranydamages.Therestaurantowner'suseofthehold-harmlessagreementisanexampleof
A)retention.
B)self-insurance.
C)insurance.
D)noninsurancetransfer.
Answer:
D
QuestionStatus:
PreviousEdition
19)AllofthefollowingaredisadvantagesofnoninsurancetransfersEXCEPT
A)Thepartytowhomthepotentiallossistransferredmaybeunabletopay.
B)Thetransfermayfailbecausethecontractlanguageisambiguous.
C)Theonlypotentiallossesthatcanbetransferredarethosethatarenotcommerciallyinsurable.
D)Thenoninsurancetransfermaybecostly.
Answer:
C
QuestionStatus:
PreviousEdition
20)ABCInsuranceretainsthefirst$1millionofeachpropertydamagelossandpurchasesinsuranceforthatpartofanypropertylossthatexceeds$1million.Theinsuranceforpropertylossesabove$1millioniscalled
A)excessinsurance.
B)liabilityinsurance.
C)coinsurance.
D)primaryinsurance.
Answer:
A
QuestionStatus:
PreviousEdition
21)Whichofthefollowingstatementsabouttheuseofdeductiblesis(are)true
I.Theyrepresentriskretentionbyinsurancepurchasers.
II.Theytendtoincreasethecostofadjustingsmallclaims.
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
A
QuestionStatus:
PreviousEdition
22)Whichofthefollowingstatementsaboutanexcessinsuranceplanistrue
A)Theinsurerdoesnotparticipateinalossuntilitexceedstheamountthefirmhasdecidedtoretain.
B)Theinsurerpaysfirstuptosomespecifiedlevel;theinsuredthenpaysalllossesexceedingtheinsurer'sretentionlevel.
C)Lossesinexcessofaspecifiedamountarenotcovered.
D)Theinsuredandinsurershareequallyinanylossthatoccurs.
Answer:
A
QuestionStatus:
PreviousEdition
23)Factorsariskmanagermustconsiderinselectinganinsurerincludewhichofthefollowing
I.Theavailabilityofriskmanagementservices.
II.Thefinancialstrengthoftheinsurer.
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
C
QuestionStatus:
PreviousEdition
24)Aninsurancepolicyspecificallywrittenanddesignedtomeettheneedsofaninsurancepurchaseriscalleda(n)
A)manuscriptpolicy.
B)bureaupolicy.
C)standardpolicy.
D)excesspolicy.
Answer:
A
QuestionStatus:
PreviousEdition
25)AllofthefollowingaredisadvantagesofusinginsuranceinariskmanagementprogramEXCEPT
A)Thereisanopportunitycostbecausepremiumsmustbepaidinadvance.
B)Considerabletimeandeffortmustbespentselectingandnegotiatingcoverages.
C)Itresultsinconsiderablefluctuationsinearningsafterlossesoccur.
D)Attitudestowardlosscontrolmaybecomelaxwhenlossesareinsured.
Answer:
C
QuestionStatus:
Revised
26)Whichofthefollowingtypesoflossexposuresmaybeappropriatelyhandledthroughthepurchaseofinsurance
I.High-frequency,low-severity
II.Low-frequency,high-severity
A)Ionly
B)IIonly
C)bothIandII
D)neitherInorII
Answer:
B
QuestionStatus:
PreviousEdition
27)Whichofthefollowingtypesoflossexposuresarebesthandledbytheuseofavoidance
A)low-frequency,low-severity
B)low-frequency,high-severity
C)high-frequency,low-severity
D)high-frequency,high-severity
Answer:
D
QuestionStatus:
PreviousEdition
28)Low-frequency,low-severitylossexposuresarebesthandledby
A)avoidance.
B)retention.
C)insurance.
D)noninsurancetransfer.
Answer:
B
QuestionStatus:
PreviousEdition
29)AllofthefollowingstatementsabouttheadministrationofariskmanagementprogramaretrueEXCEPT
A)Theriskmanagerisanimportantpartofafirm'smanagementteam.
B)Ariskmanagementpolicystatementcanbeusedtoeducatetopexecutivesabouttheriskmanagementprocess.
C)Ifariskmanagementprogramisproperlydesigned,periodicreviewoftheprogramisunnecessary.
D)Inordertoproperlyidentifylossexposures,theriskmanagerneedsthecooperationofotherdepartments.
Answer:
C
QuestionStatus:
PreviousEdition
30)CalwasjusthiredasXYZCompany'sfirstriskmanager.Calwouldliketoemploytheriskmanagementprocess.ThefirststepintheprocessCalshouldfollowisto
A)evaluatepotentiallossesfacedbyXYZCompany.
B)formulateatreatmentplanforXYZCompany'slossexposures.
C)identifypotentiallossesfacedbyXYZCompany.
D)implementandadministerariskmanagementplanforXYZCompany.
Answer:
C
QuestionStatus:
PreviousEdition
31)MembersofMid-SouthPetroleumDistributors,atradegroup,hadtroubleobtainingaffordablepollutionlia
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