-
Risk Management and Insurance
Chapter 1
Introduction to Risk
4.
Differentiate between a
peril
（风险事件）
and a
hazard
（
风险因素）
and
give an example of each. (P9)
A peril
is a specific
contingency
（意外事件）
that may
cause loss.
Examples of perils include
fire, windstorm
（暴风）
,
collision
（冲突）
, war, etc.
A hazard is a condition or situation
that makes it more likely that a peril will occur.
Examples of hazards include oily
rags
（油布）
, icy roads, a
dishonest employee, a careless driver, etc.
Hazards include:
?
Physical
hazards
（物质风险因素）
, like ice on
the sidewalks, smoking, or skydiving;
?
Moral
hazards
（道德风险因素）
(most of
which are avoidable), like dishonesty (such as
burning
down the
warehouse
（
仓库）
when
your company goes
bankrupt
（破产）
to collect
insurance money
or buying insurance on
someone with yourself as
beneficiary
（受益人）
and then
killing them);
?
Morale hazards
（心理
/
行为风险因素）
, like a careless
attitude since
“
insurance
will pay for it
”
.
5. Classify each of the following
hazards as physical, morale, or moral. (P9-10)
a.
A careless
driver;
b.
A
person who suffers an
exaggerated
（夸张的）
case of
whiplash
（脖子扭伤）
following an
automobile
accident;
c.
A worker who
occasionally leaves a dangerous machine unattended
to talk with friends;
d.
An employee who occasionally
embezzles
（挪用）
money;
e.
Icy road
conditions.
a: Morale;
b:
Moral;
c: Morale;
d: Moral;
e: Physical.
（定义）
risk
management and
identify
（识别、确定）
the four
steps in the risk management
process.
How
does
enterpri
se
（企业）
risk
management
differ
from
the
traditional
form
of
risk
managemen
t?
（
P13.10
）
Risk management is the process
used to
systematically
（系统地）
manage
exposures to pure risk. The four
steps
in the process are
①
identify risks,
②
evaluate risks,
③
select risk management techniques, and
④
implement
（执行、实施）
and review decisions.
Traditionally, risk management has
dealt primarily
（首要地）
with
pure risks. Enterprise risk management
considers all of an entity’s
risks
（实体风险）
together, both
pure and speculative
（投机的）
.
8. ABC Company owns 10,000 cars and has
determined that it is very likely to suffer
between 60 and
70 collision losses this
year. XYZ Company also owns 10,000 cars and has
determined that it is likely
to
experience
50
to
80
collision
losses
this
year.
Compute
the
degree
of
risk
for
each
company,
assuming that the companies expect to
suffer 65 losses each. (P11)
Risk
ABC
=(7
0
－
60)/65=15%
Risk
XYZ
=(8
0
－
50)/
65=46%
11. Company A owns 100 buildings
and averages 2 fires per year. Company B owns
1,000 buildings
and averages 30 fires a
year. Company A never experiences more than 3
fires a year, although in some
years
there are none. In some years Company B has as
many as 36 fires but never has fewer than 24.
Who is faced with the greater objective
risk? Who has the greater chance of loss? Explain.
(P11)
Risk
A
=(3
－
0)/2=150%
< br>Risk
B
=(36
－
24)/30=40%
A is faced with the
greater objective risk;
Pro
bability
A
=2/100=0.02
Probability
B
=30/1000=0.0
3
B has the greater chance of loss.
Chapter 2
Risk
Identification
（识别）
and
Evaluation
（评估）
1.
List and briefly describe three methods of
identifying risks. (P16-18)
One method
uses loss exposure
checklists
（遭损风险核对表）
that list
various specific sources of loss.
Another is the financial
statement
（财务报表分析）
method that
involves analyzing each item on a firm’s
income
statement
（损益表）
and balance
sheet
（资产负债表）
regarding risks
that may be present.
A
third
method
uses
flowcharts
（流程图）
to
map
out
the
physical
flow
of
goods.
Flowcharts
can
be
analyzed
with respect to
（关于，对于）
the
types of risks that may affect goods at each
point.
1
5. PTY Company has experienced the
following numbers of losses in the past 10 years:
3, 4, 3, 3, 1, 0,
2, 2, 3, 3. Calculate
the mean, median, mode,
variance
（方差）
, standard
deviation, and coefficient of
variation
for this loss experience. (P20-23)
Mean
（
average
平均值）
: (3+4+3+3+1+0+2+2+3+3)/10=24/10=2.4
Median
（中值）
: 3
(Median is the midpoint in a range of
measurements.)
0
1
2
2
3
3
3
3
3
4 (the average of the
middle double 3)
Mode
（众数）
: 3 (Mode
is the value of the variable that occurs most
often in a frequency distribution.)
Variance
（方差）
:
[(3
－
2
.4)
2
+(4
－
2.4)
2
+(3
－
2.4)
2
+(3
－
2.4)
2
+(1
－
2.4)
2
+(0
－
2.4)
2
+(2
－
2.4)
2
+(2
－
2.4)
2
+(3
－
2.4)
2
+(3
－
2.4)
2
< br>]/10
=1.24
Standard deviat
ion
（标准差）
:
1.24=1.1
1
Coefficient of
variation
（差异系数
standard
deviation/mean
）
:
(1.11/2.4)
×
100%=46.25%
6. MDC
Corporation
’
s losses are
assumed
（假定）
to be distributed
normally
（正态分布）
, with a mean
of $$10,000 and a standard
deviation
（标准差）
of $$2,000.
Calculate the probable range of losses, given
that the MDC risk manager desires 99
percent confidence in the
estimate
（估计）
. How would the
range change if only 95 percent
confidence was needed
？
(P23-24)
About 99% of all
observations should be within 3 standard
deviations of the mean.
Range of the
losses: mean
±
3 standard devi
ations=$$10,000
±
3
×
2,000=$$4,000~16,000
About
95% of all observations should be within 2
standard deviations of the mean.
Range
of the losses: mean
±
2
standard deviations=$$10,000
±
2
×
2,000=$$6,000~14,000
8. QAZ Company owns a fleet of
（一队
…
）
100
automobiles, for which the
probability
（概率）
of loss
is
approximately
（
大约）
equal
to
0.05.
Use
the
Poisson <
/p>
distribution
（泊松分布）
to
estimate
the
probability that QAZ will suffer two or
fewer auto accidents next year. (P24)
Number of exposure units = 100
Probability of loss = 0.05
Expected loss frequency =
m
= 100
×
0.05 = 5
Possible
Losses(
r
)
Probability
0
1
2
5
0
e<
/p>
?
5
1
?
0.006738
?
?
0.006738
0!
1
5
1
e
?
5
5
?
0.006738<
/p>
?
?
0.03369
1!
1
5
2
e
?
5
2
5
?
0.006738
?
?
0.08422
2!<
/p>
2
?
1
m
r
e
?
m
p
?
r
!
Probability of two or
fewer=0.006738+0.03369+0.08422= 0.12465
Chapter 3
Property and Liability Loss Exposures
3. What types of losses do bodily
injury liability
（责任）
and
personal injury liability cover? (P36-37)
Bodily
injury
（身体伤害）
: medical
services
（
医疗服务）
,
loss of income
（收入损失）
,
rehabilitation costs
（康复支出）
,
loss of services, pain and suffering
damages
（疼痛和痛苦赔偿）
, punitive
damages
（惩罚
性赔偿）
,
etc.
Personal
injury
（人身伤害）
:
libel
（中伤）
,
slander
（诽谤）
, invasion of
privacy
（侵犯个人隐私）
, false
arrest
（非法拘留）
,
etc.
10. The owners of a swimming beach
were sued
（要求）
by the parents
of a boy who drowned when he
swam into
deep water and the lifeguard failed to reach him
in time to save him. The
plaintiffs
（原告）
argued that
the defendant
（被告）
beach
owners should have had more
lifeguards
（救生员）
. The
defendants tried to prove that they had
enough guards for normal needs and that boy was
guilty of
（是
…
的过错）<
/p>
contributory
negligence
（共同过失）
in swimming
out into deep water, which, rather
than
the absence of a
sufficient
（足够的）
number of
lifeguards, was the cause of his death (Spiegel v
silver Beach Enterprises, 6 CCH Neg. 2d
874). (P38-39
、
P47)
2
-
-
-
-
-
-
-
-
-
上一篇：英国历代君主简介
下一篇：老托福分类场景听力文本(精编版)