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1、Principles of Risk Management and Insurance, 11e (Rejda)Chapter 3 Introduction to Risk Management1) Risk management is concerned withA) the identification and treatment of loss exposures.B) the management of speculative risks only.C) the management of pure risks that are uninsurable.D) the purchase
2、of insurance only.Answer: AQuestion Status: Previous Edition2) A situation or circumstance in which a loss is possible, regardless of whether a loss occurs, is called aA) deductible.B) loss exposure.C) loss avoidance.D) peril.Answer: BQuestion Status: Previous Edition3) All of the following are risk
3、 management objectives prior to the occurrence of loss EXCEPTA) analysis of the cost of different techniques for handling losses.B) continuing operations after a loss.C) reduction of anxiety.D) meeting externally imposed obligations.Answer: BQuestion Status: Previous Edition4) Preloss objectives of
4、risk management include which of the following?I.Preparing for potential losses in the most economical way.II.Reduction of anxiety.A) I onlyB) II onlyC) both I and IID) neither I nor IIAnswer: CQuestion Status: Previous Edition5) A risk manager is concerned withI.Identifying potential losses.II.Sele
5、cting the appropriate techniques for treating losses.A) I onlyB) II onlyC) both I and IID) neither I nor IIAnswer: CQuestion Status: Previous Edition6) Sources of information that can be used by a risk manager to identify pure loss exposures include all of the following EXCEPTA) risk analysis questi
6、onnaires.B) currency exchange rates. C) physical inspections.D) past losses.Answer: BQuestion Status: Previous Edition7) Loss severity is defined as theA) probable size of the losses which may occur during some period.B) probable number of losses which may occur during some period.C) probability tha
7、t any particular piece of property may be totally destroyed.D) probability that a liability judgment may exceed a firms net worth.Answer: AQuestion Status: Previous Edition8) Loss frequency is defined as theA) probable size of the losses that may occur during some period.B) probable number of losses
8、 that may occur during some period.C) probability that any particular piece of property may be totally destroyed.D) probability that a liability judgment may exceed a firms net worth.Answer: BQuestion Status: Previous Edition9) The worst loss that could ever happen to a firm is referred to as theA)
9、maximum possible loss.B) probable maximum loss.C) frequency of loss.D) severity of loss.Answer: AQuestion Status: Previous Edition10) The worst loss that is likely to happen is referred to as theA) maximum possible loss.B) probable maximum loss.C) frequency of loss.D) severity of loss.Answer: BQuest
10、ion Status: Previous Edition11) All of the following statements about avoidance are true EXCEPTA) Certain loss exposures are never acquired.B) Certain loss exposures may be abandoned.C) The chance of loss for certain loss exposures may be reduced to zero.D) It can be used for any loss exposure facin
11、g a firm.Answer: DQuestion Status: Previous Edition12) Abandoning an existing loss exposure is an example ofA) avoidance.B) retention.C) noninsurance transfer.D) insurance transfer.Answer: AQuestion Status: Previous Edition13) Which of the following conditions is (are) appropriate for using retentio
12、n?I.Losses are difficult to predict.II.The worst possible loss is not serious.A) I onlyB) II onlyC) both I and IID) neither I nor IIAnswer: BQuestion Status: Previous Edition14) Which of the following statements regarding the use of retention is (are) true? I.Retention is best used for loss exposure
13、s that have a low frequency and a high severity. II.A financially strong firm can have a higher retention level than a firm whose financial position is weak.A) I onlyB) II onlyC) both I and IID) neither I nor IIAnswer: BQuestion Status: Previous Edition15) All of the following statements about capti
14、ve insurers are true EXCEPTA) They may act as a profit center by insuring parties other than the parent company.B) They provide a way to obtain types of insurance that may be unavailable from commercial insurers.C) They increase the volatility of the parent companys earnings.D) They make it easier f
15、or a firm to have access to reinsurance.Answer: CQuestion Status: Previous Edition16) Which of the following statements about self-insurance is (are) true?I.It is a form of planned retention.II.State law usually prohibits its use for workers compensation.A) I onlyB) II onlyC) both I and IID) neither I nor IIAnswer: AQuestion Status: Previous Edition17) All of the following are potential advantages of retention EXCEPTA) lower expenses.B) increased cash flow.C) enco
