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CPCU 500 Practice Exam 1/19 Questions and Answers/Distinction Graded
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CPCU 500 Practice Exam 1/19 Questionsand Answers/Distinction Graded
Autonomous Vehicle Applications (AVA) is a start-up company that develops
safety technologies that can be sold to companies that are producing
autonomous vehicles. One technology AVA is developing allows an
autonomous vehicle to detect, extract, and analyze images; and then to
respond to the images. For example, the technology would detect a presence
in a crosswalk, extract the image, and a computer would analyze the image.
When the image was determined to be a human being, the vehicle would
slow down or stop until the crosswalk was clear. This technology, which is
designed to capture and analyze images, and to act on the recognition of the
image; is called
Select one:
A. Accelerometer technology.
B. Transducer technology.
C. Visual acuity.
D. Computer vision. - -D. Computer vision.
-Which one of the following statements is true regarding the evolution of risk
and risk management?
Select one:
A. The definitions of risk and risk management have become considerably
more focused over the years.
B. Risk management now involves only those areas where the organization
has some degree of control over the outcome.
C. Risk management is increasingly being applied to the risks associated
with accidental losses.
D. The definition of risk has evolved to include positive as well as negative
attributes. - -D. The definition of risk has evolved to include positive as well
as negative attributes.
-The traditional definition of risk management reflects the traditional
concept of risk as
Select one:
A. Both positive and negative.
B. Strategic.
C. Negative.
D. Uncontrollable. - -C. Negative.
, -In an effort to reduce expenses, increase profitability, and reduce human
errors; ABC Insurance Company decided to automate most of its personal
lines underwriting function. The company now uses standardized application
forms that are submitted electronically to one of the company's regional
offices. At each regional office, a computer with a scanner reads the
applications. The computer has been programmed with acceptable answers
to the questions. If the answers on the application are all acceptable, the
policy is automatically issued. Rejected applications are automatically
forwarded to a human underwriter who reviews them. The use of this
technology has reduced the company's expense ratio by two and a half
percent, and reduced the time it takes to issue a policy. ABC Insurance
Company's use of computers to evaluate applications electronically is an
application of
Select one:
A. Actuator technology.
B. Artificial i - -B. Artificial intelligence.
-Take Your Order (TYO) is a company that specializes in taking product
orders for vendors. The manufacturer of a product can run a television or
internet ad for a product with a toll-free number. Customer calls for the
products are routed to TYO, where one hundred operators are available to
receive the calls. Each operator is assigned a cubicle with a computer
terminal, video display monitor, and a telephone. TYO experienced high
workers compensation claims from its operators, claiming neck strain, eye
strain, and wrist pain. In an effort to reduce such injuries, TYO evaluated
each operator's work area. The height of chairs and video monitors were
adjusted, curved computer keyboards and wrist-rests were provided, and the
telephones were replaced with audio headsets. Workers compensation costs
dropped significantly. The science of designing work spaces based on
interaction between people and the equipment in the work s - -A.
Ergonomics..
-Which one of the following best explains how most smart products
potentially improve risk management?
Select one:
A. They generate big data to which advanced analytics can be applied.
B. They measure worker fatigue.
C. They assess risks in dangerous areas.
D. They scan and inspect structures for unsafe conditions. - -A. They
generate big data to which advanced analytics can be applied.
-Which one of the following data capture tools has led to an explosion of risk
management innovation by allowing smart products to transmit data to each
other and to central hubs?
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