ARM 400: Section A, Assignment 2 - Risk Management Today Test Bank

Which one of the following uses infrared light to detect nearby objects? A. Drones B. Robots C. Lidar D. Wearables - Answer- Lidar Which one of the following is an example of a wearable? A. Helmets that monitor fatigue B. Robots C. Heart monitors D. Unmanned aircraft - Answer- Helmets that monitor fatigue In addition to metal detectors, many airports have installed a second type of scanning technology for checked baggage and cargo. The checked bags and cargo pass through a portal with scanners programmed to detect and test for explosive trace fumes. These scanners, which detect explosives based on air samples, are an example of what type of sensor used for risk assessment and control? Select one: A. Radiant sensors. B. Biochemical sensors. C. Thermal sensors. D. Mechanical sensors. - Answer- Biochemical sensors. AMRM Insurance Company sells insurance in Virginia, North Carolina, South Carolina, and Georgia. The company has compiled a policyowner data base that can be used to send text messages when hurricanes approach. The company provides early warnings, storm updates from the National Weather Service, and hurricane safety measures. The company credits the system with reduced hurricane claims. The use of the texting system is an example of Select one: A. Sensor networks. B. Artificial intelligence. C. Preventive analytics. D. Experience rating. - Answer- Preventive analytics. Which one of the following best explains how most smart products potentially improve risk management? Select one: A. They assess risks in dangerous areas. B. They generate big data to which advanced analytics can be applied. C. They scan and inspect structures for unsafe conditions. D. They measure worker fatigue. - Answer- They generate big data to which advanced analytics can be applied. 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 space is called Select one: A. Artificial intelligence. B. Data analytics. C. Smart systems. D. Ergonomics. - Answer- Ergonomics. Precision Electronic Components manufactures circuit boards, microchips, and other electronic products. Given the precision necessary for their products, the manufacturing environment must be controlled. Temperature, humidity, static electricity and other factors must be monitored. After losing several batches of products due to human monitoring failures and imprecise adjustments, the company moved to a system of sensors. The sensors monitor and regulate temperature, humidity, static electricity, and other factors. The sensors transmit data to and from each other, and the manufacturing environment is continuously adjusted to assure production is successful. The network of sensors transmitting data and the autonomous corrective actions without human interaction is called Select one: A. Sensitivity analysis. B. Web-based manufacturing. C. Computer-directed manufacturing. D. The Internet of Things. - Answer- The Internet of Things. A municipal water plant installed water flow sensors and water pressure sensors on the water pipes leaving the plant. The sensors make sure water is flowing properly and that there are no leaks or clogs which could produce a loss. These types of sensors are Select one: A. Thermal sensors. B. Radiant sensors. C. Biochemical sensors. D. Mechanical sensors. - Answer- Mechanical sensors. The National Oceanic and Atmospheric Administration (NOAA), a U.S. Government agency, monitors tsunami risk. Earthquakes under the sea often cause large waves which can have a disastrous impact on coastal communities. In addition to monitoring earthquake data and tides, NOAA recently added a new tool -- tsunami detection buoys. The buoys are placed in the sea and they are equipped with sensors to detect high wave levels so that an early warning can be given to a coastal area if an evacuation is needed. This application of the use of smart products illustrates their use in Select one: A. Workplace safety management. B. Transportation management. C. Catastrophe management. D. Supply chain management. - Answer- Catastrophe management. Clear-Rite Company specializes in the clean-up of hazardous chemical spills. Workers performing clean-up operations must use safety suits to prevent exposure to the chemicals. The suits include pulse and respiration monitors, body temperature sensors, and chemical sensors. The monitors and sensors report data to a mobile operations center which is deployed to each clean-up site. The pulse and respiration monitors and the sensors that are part of the protective gear are called Select one: A. Drone technologies. B. Wearable technologies. C. Magnetometers. D. Accelerometers. - Answer- Wearable technologies. Mutual Fund Company (MFC) offers a wide array of mutual fund options to investors. Each mutual fund has a different fund objective and set of investment guidelines that apply to the fund. While MFC gives considerable freedom to its fund portfolio managers, they are required to abide by the fund's investment guidelines. To monitor compliance, MFC developed a computer algorithm. The computer algorithm continuously monitors each fund's compliance with investment guidelines. If a fund manager violates the investment guidelines, the computer immediately notifies MFC's internal control director, and corrective action is taken. MFC's use of the computer algorithm to monitor investment compliance and to provide notification when corrective action is necessary illustrates use of Select one: A. Transducer technology. B. Computer vision. C. Mechanical sensors. D. Artificial intelligence. - Answer- Artificial intelligence. 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. Risk management information systems. C. Artificial intelligence. D. Radiant sensors. - Answer- Artificial intelligence. Many auto manufacturers have automated a portion of their assembly lines by introducing a smart product. The smart product performs repetitive tasks, such as making the same weld on each vehicle frame as it passes the smart product. These smart products, which can be fixed or mobile, reduce repetitive motion injuries that humans might suffer. They can also be used to perform dangerous tasks and in heavy-lifting jobs. These smart products are called Select one: A. Wearables. B. Robots. C. Drones. D. Automated sensors. - Answer- Robots. The emerging technologies applied to risk assessment and control link the physical domain to the virtual domain. Together, these domains linked by the emerging technologies create a Select one: A. Risk management information system. B. Connected ecosystem. C. Risk management matrix. D. Smart system. - Answer- Connected ecosystem. Data Entry Company (DEC) offers customers data entry services. A customer can hire DEC to enter survey data to be analyzed. Many DEC employees spend long hours entering data on a computer. DEC has experienced neck strain and wrist pain complaints from their employees, increasing the company's workers compensation costs. DEC investigated the complaints of its data-entry employees. DEC adopted curved keyboards for data entry, wrist-rests for those entering data, and uniform chair heights and display monitor heights to reduce neck strain claims. The science of designing work spaces based on the health concerns of those who will operate in the work space is called Select one: A. Ergonomics. B. Accelerometer technology. C. Big data. D. Predictive analytics. - Answer- Ergonomics.