金融市场学双语题库及答案(第二十一章)米什金《金融市场与机构》.docxVIP

Financial Markets and Institutions, 8e (Mishkin) Chapter 21 Insurance Companies and Pension Funds 21.1 Multiple Choice 1) The earliest form of insurance was ________ insurance. A) life B) health C) automobile D) property and casualty Answer: D Topic: Chapter 21.4 Types of Insurance Question Status: Previous Edition 2) The certainty equivalent for risk-averse people who buy insurance is the A) maximum loss they may sustain. B) expected loss they may sustain. C) insurance premium they pay. D) profit the insurance company earns. Answer: C Topic: Chapter 21.1 Insurance Companies Question Status: Previous Edition 3) The problem of ________ occurs when those most likely to get large insurance payoffs are the ones who want to purchase insurance the most. A) asymmetric information B) moral hazard C) adverse selection D) fraudulent behavior Answer: C Topic: Chapter 21.2 Fundamentals of Insurance Question Status: Previous Edition 4) When those most likely to produce the outcome insured against are the ones who purchase insurance, insurance companies are said to face the problem of ________. A) fraudulent claims B) moral hazard C) adverse selection D) pecuniary purchases Answer: C Topic: Chapter 21.2 Fundamentals of Insurance Question Status: Previous Edition 5) To prevent adverse selection, health and life insurance companies may do all the following except A) charge higher premiums to people with certain preexisting health conditions. B) require potential policyholders to submit medical records. C) refuse to sell policies to people with certain pre-existing health conditions. D) charge the same premiums to all policyholders. Answer: D Topic: Chapter 21.2 Fundamentals of Insurance Question Status: Previous Edition 6) In the case of an insurance policy, ________ occurs when the existence of insurance encourages the insured party to take risks that increase the likelihood of an insurance payoff. A) moral hazard B) opportunism C) adverse selection D) shirkin