上海外国语大学贤达经济人文学院2014～2015学年第一学期《风险管理和保险原理》课程期末考试试卷（ A 卷）考试时间：90 分钟考试形式：闭卷专业班级：姓名：学号：Captive insurer Unearned premium reserve TwistingSubrogation Universal life insurance res ipsa loquitur二. 判断题（2分*10题，共20分）1.Lloyd's of London allows underwriters to write coverage without meeting stringentfinancial requirements.2.The function of an actuary is to adjust claims.3.The right of the states to regulate the business of insurance was first established byPaul v. Virginia.4. A total loss under a valued policy is settled on the basis of the market value of theloss.5.The deductible used for automobile collision losses is an example of a calendar yeardeductible.6.Most policies can be renewed for additional periods without evidence of insurability.7.murder is an intentional tort?8.Damages awarded for losses that can be determined or measured are specialdamages.9.Builders risk coverage form is used to insure buildings that are under construction.10.Reimbursement for spoilage of frozen food caused by failure of a refrigeration unitat a frozen foods processor can be covered under extra expense insurance.三．单选题（2分*10题，共20分）1.Advantages of the direct response system for marketing life insurance include whichof the following?I. Advertising can be specifically directed to selected markets.II. Complex products can be easily sold.A) I onlyB) II onlyC) both I and IID) neither I nor II2.Which of the following statements about underwriting policy is (are) true?I. A company must establish an underwriting policy consistent with companyobjectives.II. Underwriting policy is usually subjective and allows the underwriter considerable flexibility with respect to lines written and forms used.A) I onlyB) II onlyC) both I and IID) neither I nor II3.Which of the following would not appear in the asset section of an insurance company's balance sheet?A) loss reservesB) bondsC) common stockD) real estate4.Reasons for the unearned premium reserve include which of the following?I.To pay losses that occur during the policy period.II.To pay premium refunds to policyholders in the event of cancellation.A) I onlyB) II onlyC) both I and IID) neither I nor II5.Which of the following statements about the use of risk-based capital requirementsis (are) true?I. Insurers must have a certain amount of capital depending on the riskiness oftheir investments and insurance operations.II. Insurers may be required to take certain actions depending on how muchcapital they have relative to their risk-based capital requirements.A) I onlyB) II onlyC) both I and IID) neither I nor II6.Which of the following is a fundamental purpose of the principle of indemnity?A) to reduce moral hazardB) to minimize physical hazardsC) to settle property insurance losses on a replacement cost basisD) to require deductibles in all property insurance policies7.Which of the following statements about "open-perils" coverage is (are) true?I. All losses are covered except those losses specifically excluded.II.The burden of proof is on the insured to prove that a loss is covered.A) I onlyB) II onlyC) both I and IID) neither I nor II8.3) Which of the following pieces of information is needed to calculate a person'shuman life value?A) the marital status of the person.B) the person's estimated annual Social Security benefits after retirement.C) the person's cost of self-maintenance.D) current outstanding debts, including mortgage debt.9.All of the following are elements of negligence EXCEPTA) the ability to pay damages.B) the failure to perform a legal duty to use reasonable care.C) damages or injuries to a claimant.D) proximate cause between the negligent act and the injury or harm that occurs.10.Which of the following statements about the building and personal propertycoverage form is (are) true?I. A limited amount of coverage is provided for pollutant cleanup and removal at thedescribed premises if the release or discharge of the pollutant results from a covered cause of loss.II. Fire department service charges are specifically excluded because they are anormal cost of doing business.A) I onlyB) II onlyC) both I and IID) neither I nor II四．案例分析题（15*2题，共30分）Donna home, Mike became ill and asked Donna to drive. While driving Mike’scar, Donna negligently injured another motorist when she failed to stop at ared light. Mike has an auto insurance policy with a liability insurance limit of $250,000 per person for bodily injury liability. Donna has a similar auto insurance policy with a liability limit of $100,000 per person.a.If a court awards a liability judgment of $100,000 against Donna, how much, ifany, will each insurer pay ?b.If the liability judgment is $300,000, how much, if any, will each insurer pay?c.Assume that Mike cannot afford to pay the premium and lets his auto insurancepolicy lapse. At the time of accident Donna is $100,000, how much, if any, will Donna’s insurance pay ?2.Kimberly owns and operates a tennis shop in a resort area. The business is seasonal.A large part of the annual revenues are due to sales in June, July and August.Kimberly keeps the shop open during the remaining months of the year, but the inventory carried during those months is reduced. During the summer months, the amount of inventory on hand is substantially increased. Kimberly has the business insured under the special endorsements attached.a.Assume you are a risk management consultant. Identify the major loss exposuresthat Kimberly faces.b.Assume that a covered loss occurs in July, which damages part of the inventory.Does the BOP provide any protection for the increase in inventory during the summer months? Explain your answer.c.Kimberly plans to hire an additional employee during the summer months whensales are increasing. She is concerned about possible employee theft and dishonesty. Explain to Kimberly how this loss exposure can be handled under the BOP.d. A fire damaged the building. As a result, Kimberly incurred a business incomeloss because the business was closed for three months.e.Vandals broke the extreme glass window to the business, which causedsubstantial damage to the building.审核人：时间：2014.12.12 命题人：__林谦附件：答案（评分标准）上海外国语大学贤达经济人文学院2014～2015学年第一学期《风险管理和保险原理》课程期末考试答案（评分标准）（ A 卷）考试时间：_90_ 分钟考试形式：闭卷适用专业：经济、管理一．名词解释（5分*6题，共30分）Captive insurer:insurance company established and owned by a parent firm in order to insure its loss exposures while reducing premium costs, providing easier access to a reinsurer, and perhaps easing tax burdens.Unearned premium reserve: Liability reserve of an insurance company that represents the unearned part of gross premium on all outstanding policies at the time of valuation Twisting: Illegal practice of inducing a policy-owner to drop an existing policy in one company and take out a new policy in another through misrepresentation or incomplete information.Subrogation: Substitution of the insurer in place of the insured for the purpose of claiming indemnity from a negligent third party for a loss covered by insurance.Universal life insurance: A flexible-premium whole life policy that provides lifetime protection under a contract that separates the protection and saving components. The contract is an interest-sensitive product that unbundles the protection, saving, and expense components.res ipsa loquitur: Literally, the thing speaks for itself. Under this doctrine, the very fact that the event occurred establishes a presumption of negligence on behalf of the defendant.二.判断题（2分*10题，共20分）1F、2F、3T、4F、5F、6T、7F、8T、9T、10F三.单选题（2分*10题，共20分）1A、2A、3A、4C、5C、6A、7A、8C、9A、10A四．案例分析题（15分*2题，共30分）1.a. Donna is covered under her policy since she is driving a non-owned car with thepermission of the owner. She is also covered under Mike’s policy. However, Mike’s policy is primary, and Donna’s policy is excess. Accordingly, Donna’s policy does not pay until Mike’s policy limits are exhausted. Mike’s policy will pay $100,000. Donna’s policy pays nothing.b. Mike’s policy pays $250,000. Donna’s policy pays $50,000.c. $100,0002. a. The major loss exposures to the tennis shop include the following:• Loss to the tennis shop from a fire, lightning, tornado, or other peril• Loss to business personal property, such as office equipment and business computer • Loss to the inventory of tennis equipment on hand• Loss of business income and extra expenses if the business is forced to shut down because of a loss• Employee dishonesty losses• Commercial liability loss exposuresb. Yes. A peak season provision provides for a temporary increase of 25 percent of theamount of insurance when inventory values are at their peak.c. The loss exposures can be covered by adding coverage for employee dishonesty tothe policy.d. The loss of business income is covered as an additional coverage under the BOPpolicy.e. The loss is covered. Exterior building glass is covered under business personalproperty if the named insured is a tenant and no limit of insurance is shown in the declarations.。