1.The concept of Risk
風(fēng)險(xiǎn)的概念
Risk exists when there is uncertainty about the future.
風(fēng)險(xiǎn)之所以存在是因?yàn)閷?duì)未來(lái)的不確定
An insurance risk means uncertainty about a financial loss.
財(cái)產(chǎn)風(fēng)險(xiǎn)意味著財(cái)務(wù)損失的不確定性
A hazard is a condition that may create or increase the chance of loss arising from a given peril.
危險(xiǎn)因子是有可能造成或增加既定的危險(xiǎn)事件帶來(lái)的損失
A peril is a cause of loss e.g.fire,windstorm,hail or burglary.
危險(xiǎn)事件是損失產(chǎn)生的原因,例如：火災(zāi),風(fēng)暴,冰雹,雷電
2.Distinguish between speculative risk and pure risk.
區(qū)分投機(jī)風(fēng)險(xiǎn)和自然風(fēng)險(xiǎn)
Speculative risk involves three possible outcomes:loss,gain,or no change.
投機(jī)風(fēng)險(xiǎn)包括三個(gè)可能的結(jié)果：損失,獲利,持平
Pure risk involves no possibility of gain; either a loss occurs or no loss occurs
自然風(fēng)險(xiǎn)不含獲利,只包含兩種結(jié)果：損失發(fā)生和損失未發(fā)生
3.List several ways to manage financial risk.
列舉幾種財(cái)務(wù)風(fēng)險(xiǎn)管理的途徑
Avoiding risk
避免風(fēng)險(xiǎn)
Controlling risk
控制風(fēng)險(xiǎn)
Accepting risk
接受風(fēng)險(xiǎn)
Transferring
轉(zhuǎn)移風(fēng)險(xiǎn)
For example,when you purchase shares of stock,you are speculating that the value of the
例如,當(dāng)你購(gòu)買(mǎi)股票時(shí),你期望該股票的價(jià)值上升,從而你能從中獲得投資收益.同時(shí),
stock will rise and that you will earn a profit on your investment.At the same time,you know
that the value of the stock could fall and that you could lose some or all of the money you
你也清楚該股票的價(jià)值可能會(huì)降低,因而導(dǎo)致你的股票可能會(huì)部分或全部損失.
invested.Finally,you know that the value of the stock could remain the same—you might not
還有一種情況是,該股票的價(jià)值沒(méi)有上下浮動(dòng),你沒(méi)有盈利,也沒(méi)有損失.
lose money,but you might not make a profit.
An example of pure risk is the possibility that you may become disabled.If you are unable to
一個(gè)自然風(fēng)險(xiǎn)的典型例子是：你有可能變得殘疾.如果你不能工作
work,you will experience a financial loss.If,on the other hand,you never become disabled,
你將遭受經(jīng)濟(jì)上的損失,反過(guò)來(lái)說(shuō),如果你沒(méi)有殘疾
then you will incur no loss from the risk.This possibility of financial loss without the possibility
那么你就沒(méi)有遭受此風(fēng)險(xiǎn)帶來(lái)的損失.這種經(jīng)濟(jì)上有可能遭受損失,卻不可能獲利-自然風(fēng)險(xiǎn)-是
of gain—pure risk—is the only kind of risk that can be insured.The purpose of insurance is to
唯一一種可以被保險(xiǎn)的風(fēng)險(xiǎn).保險(xiǎn)的目的在于
compensate for financial loss,not to provide an opportunity for financial gain.
補(bǔ)償由此帶來(lái)的經(jīng)濟(jì)損失,而不是提供一種獲利的機(jī)會(huì).
An insurable interest exists when the policyowner is likely to benefit if the insured continues to
保險(xiǎn)公司的可能的獲利在于投保人有可能在投保期內(nèi)沒(méi)有發(fā)生意外或生命終止,而可能的損失在于投保人投保期內(nèi)遭受到某種損失或者生命終止.
live and is likely to suffer some loss or detriment if the insured dies.