©SIRJOEL EXAM SOLUTIONS
10/10/2024 11:44 AM
ENGR 482 - Test 2 Exam Questions With
Correct Answers
Which of the following are important distinctions for risk analysis? Choose all that apply.
a) risk-benefit and precautionary principles
b) future and past risk
c) subjective and objective risk
d) personal and impersonal risk - answer✔a) risk-benefit and precautionary principles
and
c) subjective and objective risk
Which of the following generated widespread concern about risk of technology in the 1970s and
80s?
a) nuclear power
b) commercial air travel
c) climate change
d) the dawn of the internet - answer✔a) nuclear power
When analyzing risk using the basic notion that it is better to be safe than sorry, engineers are
employing the _____. - answer✔precautionary principle
Subjective risk depends upon what one perceives about a technology or situation.
True/False - answer✔True
, ©SIRJOEL EXAM SOLUTIONS
10/10/2024 11:44 AM
The risk-benefit principle uses...
a) historical data to compare the risk between similar situations.
b) the perception of consumers to evaluate the risk of a given situation or technology.
c) the notion that it is better to be safe than sorry.
d) quantitative information for weighing the benefits of a risk against its costs. - answer✔d)
quantitative information for weighing the benefits of a risk against its costs.
John thinks that there is a 50% chance of injury if he rides the ferris wheel. The actual risk of the
injury on the ride is much lower, however. What can be said of John's thoughts regarding this
situation?
a) The objective risk of riding the ferris wheel is greater than the risk that John perceives.
b) His sense of subjective risk is greater than the objective risk involved.
c) It is impossible to answer this question based on the information provided.
d) The subjective risk is the same as the objective risk. - answer✔b) His sense of subjective risk
is greater than the objective risk involved.
"The exact risk that a new pesticide X will have on people or the environment is uncertain.
Rather than quantify the known risks, we are better off to not allow it to enter the market until
the risks are more fully understood." This statement best illustrates...
a) the risk-benefit principle
b) objective risk
c) subjective risk
d) the precautionary principle - answer✔d) the precautionary principle
The lottery experiment conducted by economist Maurice Allais indicates that...
a) human beings always choose the option with the most potential benefit.
, ©SIRJOEL EXAM SOLUTIONS
10/10/2024 11:44 AM
b) the precautionary principle is incompatible with risk analysis.
c) the principle of maximizing expected value sometimes calls for individuals to make counter-
intuitive choices.
d) the risk-benefit and precautionary principles often come to the same conclusion about a
certain risk. - answer✔c) the principle of maximizing expected value sometimes calls for
individuals to make counter-intuitive choices.
Which of the following are common objections made against risk-benefit analysis? Choose all
that apply.
a) it seems morally problematic to assign monetary value to the occurrence of a preventable
death.
b) risk-benefit analysis is often performed by individuals who are biased and stand to gain from
certain results.
c) risk-benefit analysis favors caution over innovation and hinders the implementation of new
technologies.
d) the numbers used in such quantitative analysis can be very uncertain. - answer✔a) it seems
morally problematic to assign monetary value to the occurrence of a preventable death.
and...
d) the numbers used in such quantitative analysis can be very uncertain.
Which of these is NOT a common criticism of the Risk-Benefit Principle?
a) The numbers used in a risk-benefit analysis are very often uncertain.
b) The Risk-Benefit Principle does not adequately address reasonable intuitions about risk
aversion.
c) The Risk-Benefit Principle prevents progress because the calculations involved make it
impossible to introduce novel designs.
d) The Risk-Benefit Principle attempts to assign values to things that cannot be assessed in
monetary terms. - answer✔c) The Risk-Benefit Principle prevents progress because the
calculations involved make it impossible to introduce novel designs.
10/10/2024 11:44 AM
ENGR 482 - Test 2 Exam Questions With
Correct Answers
Which of the following are important distinctions for risk analysis? Choose all that apply.
a) risk-benefit and precautionary principles
b) future and past risk
c) subjective and objective risk
d) personal and impersonal risk - answer✔a) risk-benefit and precautionary principles
and
c) subjective and objective risk
Which of the following generated widespread concern about risk of technology in the 1970s and
80s?
a) nuclear power
b) commercial air travel
c) climate change
d) the dawn of the internet - answer✔a) nuclear power
When analyzing risk using the basic notion that it is better to be safe than sorry, engineers are
employing the _____. - answer✔precautionary principle
Subjective risk depends upon what one perceives about a technology or situation.
True/False - answer✔True
, ©SIRJOEL EXAM SOLUTIONS
10/10/2024 11:44 AM
The risk-benefit principle uses...
a) historical data to compare the risk between similar situations.
b) the perception of consumers to evaluate the risk of a given situation or technology.
c) the notion that it is better to be safe than sorry.
d) quantitative information for weighing the benefits of a risk against its costs. - answer✔d)
quantitative information for weighing the benefits of a risk against its costs.
John thinks that there is a 50% chance of injury if he rides the ferris wheel. The actual risk of the
injury on the ride is much lower, however. What can be said of John's thoughts regarding this
situation?
a) The objective risk of riding the ferris wheel is greater than the risk that John perceives.
b) His sense of subjective risk is greater than the objective risk involved.
c) It is impossible to answer this question based on the information provided.
d) The subjective risk is the same as the objective risk. - answer✔b) His sense of subjective risk
is greater than the objective risk involved.
"The exact risk that a new pesticide X will have on people or the environment is uncertain.
Rather than quantify the known risks, we are better off to not allow it to enter the market until
the risks are more fully understood." This statement best illustrates...
a) the risk-benefit principle
b) objective risk
c) subjective risk
d) the precautionary principle - answer✔d) the precautionary principle
The lottery experiment conducted by economist Maurice Allais indicates that...
a) human beings always choose the option with the most potential benefit.
, ©SIRJOEL EXAM SOLUTIONS
10/10/2024 11:44 AM
b) the precautionary principle is incompatible with risk analysis.
c) the principle of maximizing expected value sometimes calls for individuals to make counter-
intuitive choices.
d) the risk-benefit and precautionary principles often come to the same conclusion about a
certain risk. - answer✔c) the principle of maximizing expected value sometimes calls for
individuals to make counter-intuitive choices.
Which of the following are common objections made against risk-benefit analysis? Choose all
that apply.
a) it seems morally problematic to assign monetary value to the occurrence of a preventable
death.
b) risk-benefit analysis is often performed by individuals who are biased and stand to gain from
certain results.
c) risk-benefit analysis favors caution over innovation and hinders the implementation of new
technologies.
d) the numbers used in such quantitative analysis can be very uncertain. - answer✔a) it seems
morally problematic to assign monetary value to the occurrence of a preventable death.
and...
d) the numbers used in such quantitative analysis can be very uncertain.
Which of these is NOT a common criticism of the Risk-Benefit Principle?
a) The numbers used in a risk-benefit analysis are very often uncertain.
b) The Risk-Benefit Principle does not adequately address reasonable intuitions about risk
aversion.
c) The Risk-Benefit Principle prevents progress because the calculations involved make it
impossible to introduce novel designs.
d) The Risk-Benefit Principle attempts to assign values to things that cannot be assessed in
monetary terms. - answer✔c) The Risk-Benefit Principle prevents progress because the
calculations involved make it impossible to introduce novel designs.
