In insurance theory, moral hazard is the name given to the increased risk of immoral behavior, and thus a negative outcome (“hazard”), because the person who caused the problem doesn’t suffer the full (or any) consequences, or may actually benefit．Such a concern typically arises in the context of a contract (for example, an insurance policy)．
The most well known examples of moral hazard come from insurance．For example:
Fire insurance increases the motivation to commit arson (縱火), especially if someone is operating a failing business and decides that they’d rather have the cash from the insurance proceeds on the buildings than the buildings themselves．(The value of a business often is based on profitability; after arson, the owner can claim the business was profitable．) In a worst case, the building is over-insured or valuable contents are removed but claims are filed that they were destroyed in the fire．
In finance, low level of effort by the agent (employee) is called the “moral hazard problem” according to agency theory．The more autonomy (自主) the agent enjoys and the greater the information the agent possesses, and the greater the specialized knowledge required to perform the task, the greater the chances for the occurrence of moral hazard．
The problem of moral hazards for insurance can’t be eliminated, but can be minimized．For example:
Getting detailed information to evaluate the value of what is being insured, rather than simply taking the word of the person buying the insurance．
Requiring that there be a deductible(扣除額) (an initial up-front sum which the insured must pay out of his or her own pocket in case of a loss), and/or only paying out a percentage of the loss (say, 80 or 90 percent) via a coinsurance clause．
72．What might be the headache for the insurance company after a fire?
A．Not knowing who set the fire．
B．The owner might over-claim the loss．
C．Where to get the insurance fee paid．
D．How to punish those who cheated the company．
73．What might be the best way not to suffer over-loss in paying back insurance according to the above passage?
A．Investigate carefully after a fire．
B．Try to get as much detail information about the insurance．
C．Try to catch hold of the person who committed arson．
D．Request the buyer of insurance to pay more．
74．The two examples in the above passage are applied to ______．
A．help people to have reasonable insurance
B．present the difficulties the insurance companies have
C．bring up a problem and a solution in insurance business
D．invite people to buy more profitable insurance
75．The above passage is mainly about ______．
A．a new theory in insurance B．a moral challenge in business
C．a common business phenomenon D．moral hazard in insurance
名牌學校分層周周測系列答案
黃岡海淀全程培優測試卷系列答案科目：高中英語 來源： 題型：閱讀理解
Insurance companies provide a service to the community by protecting it against expected and unexpected disasters. Before an insurance company will agree to insure anything, it collects accurate figures about the risk. It knows, for example, that the risk of a man being killed in a plane accident is less than the risk he takes in crossing a busy road. This enables it to quote(報價) low figures for travel insurance. Sometimes the risk may be high, as in motor-racing or mountaineering. Then the company charges a much higher price. If too many climbers have accidents, the price rises further. If the majority of climbers fall off mountains, the company will refuse to insure them.
An ordinary householder may wish to protect his home against fire or his property against burglary(入室行竊). A shopkeeper may wish to insure against theft. In normal cases, the company will check its statistics and quote a premium(保險費). If it is suspicious(可疑的), it may refuse to quote. If it insures a shop and then receives a suspicious claim, it will investigate the claim as a means of protecting itself against false claims. It is not unknown for a businessman in debt to burn down his own premises so that he can claim much money from his insurance company. He can be sure that the fire will be investigated most carefully. Insurance companies also accept insurance against shipwreck or disaster in the air. Planes and ships are very expensive, so a large premium is charged, but a reduction is given to companies with an accident-free record.
Every week, insurance companies receive premium payments from customers. These payments can form a very large total running into millions of dollars. The company does not leave the money in the bank. It invests (投資) in property, shares (股票) ,farms and even paintings and stamps. Its aim is to obtain the best possible return on its investment. This is not as greedy as it may seem since this is one way by which it can keep its premiums down and continue to make a profit while being of service to the community.
The main idea of the first paragraph is that .
A. insurance companies protect the community against disasters
B. insurance companies often collect accurate figures about the risk
C. insurance companies base their decisions on the risk involved
D. insurance companies charge different prices in the same cases
The insurance company will usually investigate a suspicious claim to .
A. refuse to quote the insurance fee B. make sure that the claim is reasonable
C. decide how much the company should pay D. find out when the accident happened
The underlined word "premises" in Paragraph 2 most probably means" "
A. land and buildings B. insurance contract
C. debt papers D. financial papers
The author’s attitude towards customers’ premium payments being used by insurance companies is __
A. critical B. doubtful C. neutral D. positive
The purpose of this passage is to __
A. explain how insurance companies operate
B. encourage people to invest in insurance companies
C. persuade people to insure against unexpected disasters
D. advise people how to insure their life and property
查看答案和解析>>
科目：高中英語 來源：2010屆湖北省高考英語總復習練習系列三 題型：閱讀理解
Four Insurance Policies You Can' t Do Without
A single gap in insurance coverage could wipe out the money that yon' ve earned for many years through your hard work.That' s why it' s important to give yourself a yearly insurance checkup, whether you buy your policies through an agent or from one of the growing number of insurance companies.
Health.Before selecting a policy from your employer or deciding among Medicare options, review your current health,predictable medical needs, and family status.This review should help you avoid a plan that fails to cover a necessary treatment or paying for services that you know you'll never use.
Disability. Your chances of becoming disabled before you retire are far greater than your chances of dying. So every working person needs some kind of disability coverage. If you are working for an employer who offers less than that, you can buy an individual policy to promote your coverage.
Homeowners or renters. Make sure you have replacement-cost coverage that would pay the current costs of rebuilding your home and replacing your personal possessions. A policy that would only pay for the decrease in value of these items isn' t good enough, because you could end up recovering just a small part of their costs. Don' t forget flood and/or earthquake insurance if you live in a locate that has a possible tendency to these types of disasters.
Life. Empty nesters and retirees may. no longer need life insurance at all. But if you have dependents who would suffer financially if you died, it' s still a must.
65. To have your insurance checkup every year is mainly because _______.
A. the gap in insurance coverage could cost you a large sum
B. the gap in insurance coverage could bring you benefits
C. some insurance agencies cover few of your policies
D. too many insurance companies prefer to sell coverage
66. _______ can be ignored while deciding among Medicare choices.
A. Your necessary treatment. B. Your personal health at present.
C. Your social status. D. Your predictable medical needs.
67. Which of the following is NOT true according to the passage?
A. Workers needn' t buy personal disability coverage if their bosses offer that
B. Insurance companies can secure the full value of private possessions
C. Earthquake insurance can cover replacement-cost caused by the disaster
D. Divorced or retired people may need life insurance for their dependents
68. We can infer that demand for insurance_______.
A. varies due to individual needs of coverage
B. stays the same whether you are working or not
C. increases when we move to a new place
D. decreases if we have a large family to support
查看答案和解析>>
科目：高中英語 來源：2011屆黑龍江省哈九中高三第二次模擬考試英語卷 題型：閱讀理解
While surfing television channels over the weekend，a scene from a family classic of last year portraying the now-so-familiar sorry state of retired parents being ill-treated by their children and families caught my attention. I wondered why the description of this relationship had not changed much over the many years! Even though the same movies and soaps accurately capture several other social changes around us — from value systems to new found economic freedom to the importance of technology and the changing approach to consumerism(消費主義) — are these creative efforts far from the truth in telling us that an average retiree is still struggling?
Look around and you will agree that the post-retired lifestyle for an ex-salaried class people is often a pale shadow of their last working years. Even self employed people, who have handed over the responsibility to the next generation, are no exception. Did the average middle class not save enough through his working years?
Socially, we already know that the Indians are taught the benefits of start saving early on in life. Household savings data supports this social behavior — India has the highest rates of savings among various economies and is far ahead of the west. Yet, tragically, a lifetime of savings does not seem to provide enough for a comfortable retirement!
A closer look at the pattern of what we do with our financial savings may tell us a bit more. Over half of households’ financial savings is put into a “safe” deposit, followed by large portions in insurance, pension, provident funds（福利基金） and the rest in physical currency. Less than a tenth goes into “risky” assets(資產) like stocks. While there might be nothing, in particular, worrisome in this investment pool, one has to consider inflation(通貨膨脹). The real value of savings, over a few decades, may actually be lower than the starting point.
【小題1】What had not changed much over the many years according to the passage?
| A．Value systems | B．The poor situation of retirees |
| C．Economic freedom | D．Approach to consumerism |
| A．the concept of saving has been well received by Indians. |
| B．the amount of the savings ranks number one across the world. |
| C．long-standing savings can help the retirees live a care-free life. |
| D．saving early can not benefit people at all. |
| A．Half of the financial savings in stocks can be accepted. |
| B．The real value of saving must be lowered in a few years. |
| C．A loss of savings may hardly be avoided. |
| D．Inflation can be avoided on condition that you consume instead of saving. |
| A．Retirees being treated unfairly |
| B．Is saving enough |
| C．Saving in India |
| D．How to deal with saving |
查看答案和解析>>
科目：高中英語 來源：2010-2011學年黑龍江省高三第二次模擬考試英語卷 題型：閱讀理解
While surfing television channels over the weekend，a scene from a family classic of last year portraying the now-so-familiar sorry state of retired parents being ill-treated by their children and families caught my attention. I wondered why the description of this relationship had not changed much over the many years! Even though the same movies and soaps accurately capture several other social changes around us — from value systems to new found economic freedom to the importance of technology and the changing approach to consumerism(消費主義) — are these creative efforts far from the truth in telling us that an average retiree is still struggling?
Look around and you will agree that the post-retired lifestyle for an ex-salaried class people is often a pale shadow of their last working years. Even self employed people, who have handed over the responsibility to the next generation, are no exception. Did the average middle class not save enough through his working years?
Socially, we already know that the Indians are taught the benefits of start saving early on in life. Household savings data supports this social behavior — India has the highest rates of savings among various economies and is far ahead of the west. Yet, tragically, a lifetime of savings does not seem to provide enough for a comfortable retirement!
A closer look at the pattern of what we do with our financial savings may tell us a bit more. Over half of households’ financial savings is put into a “safe” deposit, followed by large portions in insurance, pension, provident funds（福利基金） and the rest in physical currency. Less than a tenth goes into “risky” assets(資產) like stocks. While there might be nothing, in particular, worrisome in this investment pool, one has to consider inflation(通貨膨脹). The real value of savings, over a few decades, may actually be lower than the starting point.
1.What had not changed much over the many years according to the passage?
A. Value systems B. The poor situation of retirees
C. Economic freedom D. Approach to consumerism
2.Which of the following statements about saving in India is right?
A. the concept of saving has been well received by Indians.
B. the amount of the savings ranks number one across the world.
C. long-standing savings can help the retirees live a care-free life.
D. saving early can not benefit people at all.
3. What can be inferred according to the last paragraph?
A. Half of the financial savings in stocks can be accepted.
B. The real value of saving must be lowered in a few years.
C. A loss of savings may hardly be avoided.
D. Inflation can be avoided on condition that you consume instead of saving.
4.What’s the best title of the text?
A. Retirees being treated unfairly
B. Is saving enough
C. Saving in India
D. How to deal with saving
查看答案和解析>>
湖北省互聯網違法和不良信息舉報平臺 | 網上有害信息舉報專區 | 電信詐騙舉報專區 | 涉歷史虛無主義有害信息舉報專區 | 涉企侵權舉報專區
違法和不良信息舉報電話：027-86699610 舉報郵箱：58377363@163.com
