风险管理与保险——总结

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.

6.Define（定义）risk management and identify（识别、确定）the four steps in the risk management process. How does enterprise（企业）risk management differ from the traditional form of risk management?（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 ①identify risks, ②evaluate risks, ③select risk management techniques, and ④implement（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=(70－60)/65=15% Risk XYZ=(80－50)/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% Risk B=(36－24)/30=40%

A is faced with the greater objective risk;

Probability A=2/100=0.02 Probability B=30/1000=0.03

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.