瑞达 Rejda 保险教材英文练习题全

PrinciplesofRiskManagementandInsurance,11e(Rejda)Chapter2InsuranceandRisk1)AllofthefollowingarecharacteristicsofinsuranceEXCEPTA)riskavoidance.B)poolingoflosses.C)paymentoffortuitouslosses.D)indemnification.Answer:AQuestionStatus:PreviousEdition2)Whichofthefollowingisimpliedbythepoolingoflosses?A)sharingoflossesbyanentiregroupB)inabilitytopredictlosseswithanydegreeofaccuracyC)substitutionofactuallossforaveragelossD)increaseofobjectiveriskAnswer:AQuestionStatus:PreviousEdition3)Accordingtothelawoflargenumbers,whathappensasthenumberofexposureunitsincreases?A)Actualresultswillincreasinglydifferfromprobableresults.B)Actualresultswillmorecloselyapproachprobableresults.C)Nondiversifiableriskwilldecrease.D)Objectiveriskwillincrease.Answer:BQuestionStatus:Revised4)Accordingtothelawoflargenumbers,whatshouldhappenasaninsurerincreasesthenumberofunitsinsured?A)Theamounttheinsurerexpectstopayinclaimsshoulddecrease.B)Underwritingexpensesshoulddecrease.C)Actualresultswillmorecloselyapproachexpectedresults.D)Theinsurer'sprofitabilityshouldbecomemorevariable.Answer:CQuestionStatus:PreviousEdition5)Characteristicsofafortuitouslossincludewhichofthefollowing?I.Thelossiscertaintooccur.II.Thelossoccursasaresultofchance.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:BQuestionStatus:PreviousEdition6)Fromtheviewpointoftheinsurer,allofthefollowingarecharacteristicsofanideallyinsurableriskEXCEPTA)Thelossmustbeaccidental.B)Thelossshouldbecatastrophic.C)Thepremiummustbeeconomicallyfeasible.D)Theremustbealargenumberofexposureunits.Answer:BQuestionStatus:Revised7)Fromthestandpointoftheinsurer,allofthefollowingarecharacteristicsofanideallyinsurableriskEXCEPTA)Thelossmustbeunintentional.B)Thechanceoflossmustbecalculable.C)Thelossmustbeindeterminable.D)Thelossmustbemeasurable.Answer:CQuestionStatus:Revised8)Whyisalargenumberofexposureunitsgenerallyrequiredbeforeapureriskisinsurable?A)Itpreventstheinsurerfromlosingmoney.B)Iteliminatesintentionallosses.C)Itminimizesmoralhazard.D)Itenablestheinsurertopredictlossesmoreaccurately.Answer:DQuestionStatus:PreviousEdition9)Therequirementthatlossesshouldbeaccidentalandunintentionalinordertobeinsurableresultsinwhichofthefollowing?I.DecreaseinmoralhazardII.MoreaccuratepredictionoffuturelossesA)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:CQuestionStatus:PreviousEdition10)Whichofthefollowingisimpliedbytherequirementthatalossshouldbedeterminableandmeasurabletobeinsurable?I.Thelossmustbedefiniteastoplace.II.Thelossmustbedefiniteastoamount.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:CQuestionStatus:PreviousEdition11)Methodsbywhichinsurersmayminimizeoravoidcatastrophiclossesincludewhichofthefollowing?I.TheuseofreinsuranceII.ConcentratingcoveragewritteninonegeographicregionA)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:AQuestionStatus:PreviousEdition12)Whichofthefollowingtypesofrisksbestmeetstherequirementsforbeinginsurablebyprivateinsurers?A)marketrisksB)propertyrisksC)financialrisksD)politicalrisksAnswer:BQuestionStatus:PreviousEdition13)Reasonswhymarket,financial,andproductionrisksareoftenuninsurableincludewhichofthefollowing?I.Thepotentialtoproduceacatastrophiclossisgreat.II.Thechanceoflosscannotbeaccuratelyestimated.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:CQuestionStatus:PreviousEdition14)Whichofthefollowingtypesofrisksisnormallyuninsurablebyprivateinsurers?A)personalrisksB)propertyrisksC)liabilityrisksD)marketrisksAnswer:DQuestionStatus:PreviousEdition15)Whichofthefollowingisaresultofadverseselection?A)Theinsurer'sfinancialresultswillbesubstantiallyimproved.B)Personsmostlikelytohavelossesarealsomostlikelytoseekinsuranceatstandardrates.C)Itisunnecessaryfortheinsurancecompanytouseunderwriting.D)Insurancecanbewrittenonlybythefederalgovernment.Answer:BQuestionStatus:PreviousEdition16)ThetendencyforunhealthypeopletoseeklifeorhealthinsuranceatstandardratesisanexampleofA)moralhazard.B)fundamentalrisk.C)attitudinalhazard.D)adverseselection.Answer:DQuestionStatus:Revised17)Whichofthefollowingstatementsregardinginsuranceandgamblingis(are)true?I.Insuranceisusedtohandleexistingpurerisks,whilegamblingcreatesanewspeculativerisk.II.Insuranceusuallyinvolvesriskavoidance,whilegamblingtypicallyinvolvesonlyriskreduction.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:AQuestionStatus:PreviousEdition18)Inadditiontomarketinglifeinsurance,lifeinsurerstypicallysellwhichofthefollowingproducts?I.RetirementannuitiesII.DisabilityincomeinsuranceA)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:CQuestionStatus:PreviousEdition19)InlandmarineinsuranceprovidescoverageforA)goodsbeingshippedonland.B)prematuredeathofmembersofthearmedforces.C)goodsbeingshippedonocean-goingvessels.D)liabilityexposuresofnonprofitorganizations.Answer:AQuestionStatus:PreviousEdition20)AllofthefollowingareclassifiedascasualtyinsuranceEXCEPTA)lifeinsurance.B)generalliabilityinsurance.C)workerscompensationinsurance.D)burglaryandtheftinsurance.Answer:AQuestionStatus:PreviousEdition21)Whichofthefollowingisaformofcasualtyinsurance?A)fireinsuranceB)generalliabilityinsuranceC)inlandmarineinsuranceD)oceanmarineinsuranceAnswer:BQuestionStatus:PreviousEdition22)Theterm"multiple-lineinsurance"isusedtodescribeatypeofinsurancethatcombineswhichofthefollowingcoveragesintoasinglecontract?A)workerscompensationandhealthinsuranceB)lifeanddisabilityinsuranceC)propertyandcasualtyinsuranceD)pensionsandannuitiesAnswer:CQuestionStatus:PreviousEdition23)AllofthefollowingarebenefitstosocietythatresultfrominsuranceEXCEPTA)lessworryandfear.B)eliminationofmoralhazard.C)indemnificationforloss.D)lossprevention.Answer:BQuestionStatus:PreviousEdition24)Whichofthefollowingstatementsabouttheinsuranceindustryasasourceofinvestmentfundsis(are)true?I.Thesefundsresultinalowercostofcapitalthanwouldexistintheabsenceofinsurance.II.Thesefundstendtopromoteeconomicgrowthandfullemployment.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:CQuestionStatus:PreviousEdition25)AllofthefollowingaresocialcostsassociatedwithinsuranceEXCEPTA)insurancecompanyoperatingexpenses.B)fraudulentclaims.C)inflatedclaims.D)increasedcostofcapital.Answer:DQuestionStatus:PreviousEdition26)Agroupoffarmersagreedthatifanyfarmersufferedapropertyloss,thelosswouldbespreadovertheentiregroup.Inthisway,eachfarmerisresponsiblefortheaveragelossofthegroupratherthantheactuallossthatthefarmersustained.Whichcharacteristicofinsuranceisembodiedinthisagreement?A)poolingoflossesB)fortuitouslossesC)riskavoidanceD)indemnificationAnswer:AQuestionStatus:PreviousEdition27)XYZInsuranceCompanywritescoverageformostperilswhichcandamageproperty.XYZ,however,doesnotwritefloodinsuranceonpropertylocatedinfloodplains.WhichrequirementofanideallyinsurableriskmightbeviolatedifXYZwrotefloodinsuranceonpropertylocatedinfloodplains?A)Theremustbealargenumberofsimilarexposureunits.B)Thelossshouldnotbecatastrophic.C)Thechanceoflossmustbecalculable.D)Thelossesmustbedeterminableandmeasurable.Answer:BQuestionStatus:Revised28)ABCApplianceoffersawarrantyrequiringanannualfee.Thewarrantymaybepurchasedatthetimeofsaleoratanytimewithinthefirstyearaftertheappliancewaspurchased.Thewarrantyfeeafterthedateofpurchaseistwicethetime-of-purchasefee.Whenaskedwhythefeewashigherafterthedateofpurchase,ABC'spresidentsaid,"Buyingawarrantyisvoluntary.We'venotedthatthosewhobuythewarrantyafterthepurchasedatehaveagreaterneedforservice."ChargingthesamerateoralowerrateafterthedateofpurchasewouldexposeABCtowhatproblemthatalsoimpactsprivateinsurers?A)excessivepremiumsB)reducedclaimsC)badinvestmentsD)adverseselectionAnswer:DQuestionStatus:PreviousEdition29)AlphaInsuranceCompanyinsuresabroadrangeofrisks,includingwhateverisnotcoveredbyfire,marine,andlifeinsurers.WhichtermbestdescribesthewiderangeofriskswrittenbyAlphaInsurance?A)fidelityinsuranceB)casualtyinsuranceC)socialinsuranceD)propertyinsuranceAnswer:BQuestionStatus:PreviousEdition30)LMNInsurancemarketshomeownersinsurance.TheLMNhomeownerspolicycombinespropertyandcasualtyinsuranceinthesamecontract.InsurancepoliciescombiningpropertyandcasualtycoverageinthesamecontractarecalledA)mono-linepolicies.B)multi-yearpolicies.C)multiple-linepolicies.D)manuscriptpolicies.Answer:CQuestionStatus:PreviousEdition31)Onebranchofgovernmentinsuranceprogramshasanumberofdistinguishingcharacteristics.Theseprogramsarecompulsory,theyarefinancedbymandatorycontributionsratherthangeneraltaxrevenues,andbenefitsareweightedinfavoroflow-incomegroups.ThesegovernmentinsuranceprogramsarecalledA)welfareprograms.B)socialinsuranceprograms.C)casualtyinsuranceprograms.D)privateinsuranceprograms.Answer:BQuestionStatus:PreviousEdition32)Ginawouldliketobuyahouse.Shewillpay10percentofthecostofthehouseasadownpaymentandborrowtheother90percentfromamortgagelender.Thehomewillserveascollateralfortheloan.ThelenderrequiresGinatopurchasepropertyinsuranceonthehomesothatthecollateralsupportingtheloanwillbeprotected.Thisscenarioillustrateswhichofthefollowingbenefitsofinsurancetosociety?A)enhancementofcreditB)reductionoffearandworryC)sourceofinvestmentfundsD)incentivesforlosspreventionAnswer:AQuestionStatus:PreviousEdition33)ABCInsuranceCompanycalculatedtheamountthatitexpectedtopayinclaimsundereachpolicysold.Ratherthansellingtheinsurancefortheamountitexpectedtopayinclaims,ABCaddedanallowancetocoverthecostofdoingbusiness,includingcommissions,taxes,andacquisitionexpenses.Thisallowanceiscalleda(n)A)policyownerdividend.B)premium.C)expenseloading.D)ratecredit.Answer:CQuestionStatus:PreviousEdition34)JKLInsuranceCompanyestimatesthat14outofevery100homeownersitinsureswillfileaclaimeachyear.Lastyear,JKLinsured200homeowners.Accordingtothelawoflargenumbers,whatshouldhappenifJKLinsures2,000homeownersthisyear?A)ThetotalnumberofclaimsfiledbyJKLpolicyownersshoulddecrease.B)Thetotaldollarvalueofclaimswilldecrease.C)Theaveragesizeoflosswilldeclineinvalue.D)Theactualresultswillmorecloselyapproachtheexpectedresults.Answer:DQuestionStatus:PreviousEdition35)ApexInsuranceCompanywrotealargenumberofpropertyinsurancepoliciesinanareawhereearthquakelossescouldoccur.WhenthepresidentofApexwasaskedifshefearedthatasevereearthquakemightputthecompanyoutofbusiness,sheresponded,"Notachance.Wetransferredmostofthatrisktootherinsurancecompanies."AnarrangementbywhichaninsurerthatinitiallywritesinsurancetransferstoanotherinsurerpartorallofthepotentiallossesassociatedwithsuchinsuranceiscalledA)hedging.B)speculating.C)reinsurance.D)lossavoidance.Answer:CQuestionStatus:PreviousEdition36)BronsonCasualtyCompanysellscasualtyinsuranceonly.WhichofthefollowingcoveragescouldyoupurchasefromBronsonCasualtyCompany?A)lifeinsuranceB)fireinsuranceC)marineinsuranceD)liabilityinsuranceAnswer:DQuestionStatus:New37)Whichofthefollowingstatementsregardinginsuranceandhedgingis(are)true?I.Insuranceinvolvesthetransferofinsurableriskwhilehedginghandlesriskthatistypicallyuninsurable.II.Bothinsuranceandhedgingrelyonthelawoflargenumberstoreducerisk.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:AQuestionStatus:PreviousEdition38)Ashleyopenedanall-you-can-eatbuffetrestaurant.Thecostper-personwasbaseduponwhatAshleybelievedanaveragerestaurantpatronwouldconsume.Therestaurantbegantolosemoney.Ashleyconcludedthatherpatronshad"aboveaverage"appetites,andwereattractedtoherrestaurantbecausetheycouldeatasmuchastheywantedwhilebeingchargedanaverageprice.Asimilarphenomenonexistsininsurancemarkets.ThisproblemiscalledA)moralhazard.B)adverseselection.C)attitudinalhazard.D)fundamentalrisk.Answer:BQuestionStatus:Revised39)Whichofthefollowingstatementsis(are)trueconcerningprivateinsurance?I.Socialinsuranceprogramsareprivateinsuranceprograms.II.Bothindividualsandbusinessespurchaseprivateinsurance.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:BQuestionStatus:PreviousEdition40)AdverseselectionoccursA)whenaninsurancecompanylosesmoneyonitsinvestments.B)whenindividualsintentionallybringaboutalossinordertocollectfromaninsurer.C)whencatastrophiclossesoccurasaresultofanaturaldisaster.D)whenapplicantswithahigher-than-averagechanceoflossseekinsuranceatstandardrates.Answer:DQuestionStatus:New