FIN 428 Week 2 Quiz | eBooks | Education

FIN 428 Week 2 Quiz

FIN 428 Week 2 Quiz PLDZ-5584
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FIN 428 Week 2 Quiz 

https://zh.scribd.com/document/343514565/Uop-Tutorial

FIN 428 Week 2 Quiz

 

 

 

 

 

    • Correct answerquestion1

 

 

 

?Although insurance may be defined in various ways, the two fundamental characteristics of the insurance mechanism are

?premiums and policies.

?combination and sharing.

?loss prevention and transfer.

?transfer and sharing.

 

 

 

 

 

    • Correct answerquestion2

 

 

 

?The term hazard refers to

?the same thing as the term peril.

?a condition that increases the chance of loss.

?the same thing as probability of loss.

?uncertainty regarding loss.

 

 

 

    • Correct answerquestion3

 

 

 

?From the viewpoint of society and the economy, the most desirable means of dealing with risk is

?loss prevention.

?transfer.

?sharing.

?retention.

 

 

 

    • Correct answerquestion4

 

 

 

?Adverse selection is a term used to describe

?the tendency of the poorer than average risks to seek insurance to a greater extent than do the better than average risks.

?an underwriting error on the part of an insurance company.

?the choice of the wrong insurance to fit a specific need.

?a loss situation in which the chance of loss cannot be determined.

 

 

 

    • Correct answerquestion5

 

 

 

?Pure risk is characterized by

?a chance of loss or no loss only.

?a chance of loss and a chance of gain.

?a chance of gain and a chance of gain.

?the chance of gain or no loss only.

 

 

 

    • Correct answerquestion6

 

 

 

?The definition of risk suggested in the text views risk as

?subjective uncertainty.

?a state of mind.

?a condition of the real world.

?an opportunity for gain or loss.

 

 

 

    • Correct answerquestion7

 

 

 

?Financial risk management encompasses management of

?credit risk, market risk, and liquidity risk

?pure risk, speculative risk, and strategic risk

?operational risk, strategic risk, and credit risk

?compliance risk, credit risk, and strategic risk

 

 

 

    • Correct answerquestion8

 

 

 

?The distinction between fundamental and particular risks is important because

?particular risk policies only allow for partial coverage, whereas fundamental risk policies allow full coverage.

?whether a risk is fundamental or particular may determine how society will deal with it.

?fundamental risks are a source of gain to society.

?normally only particular risks are insurable.

 

 

 

    • Correct answerquestion9

 

 

 

?The term enterprise risk management refers to

?management of risks for profit-making organizations.

?management of financial risks.

?integrated management of a firm’s pure and speculative risks.

?management of risks related to derivatives and futures.

FIN 428 Week 2 Quiz https://zh.scribd.com/document/343514565/Uop-Tutorial FIN 428 Week 2 Quiz Correct answerquestion1 ?Although insurance may be defined in various ways, the two fundamental characteristics of the
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