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Defining Terrorism Risk
Modeling Terrorism
Hazard and Vulnerability
RMS Model Applications
AIR - Import Files
100
This is the difference between an attack and an event
What is an attack is a singular occurrence while an events are defined as one or more attacks occurring on one or more targets simultaneously
100
These are the three approaches utilized for terrorism risk assessment
What are: exposure analysis, scenario modeling, probabilistic modeling?
100
This term refers to the quantification of the physical characteristics of a terrorist attack, irrespective of their impact on any set of exposures or portfolio
What is hazard?
100
This is the definition of AAL and how it's calculated for an event
What is: premium needed to cover loss from a peril over time. It's calculated by multiplying rate*mean loss
100
This file contains the contract, layer and sublimit information (using AIR terminology)
What is the contract file
200
Attack intensity is classified by these two factors
What are economic loss and human casualties?
200
These two primary modifiers are taken into account for probabilistic modeling.
What are construction and building height?
200
These are two types of hazard footprints available
What are simple footprint and VRG analyses?
200
This is the definition of Return Period Loss?
What is "a point on that EP curve that represents the annual likelihood that losses will exceed a specified loss threshold, whether from a single event or an aggregation of multiple events"?
200
True or False: AIR's stochastic catalogue has a day/time stamp, meaning contract dates can be taken into consideration
What is TRUE
300
This is the reason terrorism attacks are not defined as "market share" events
What is - the size of the area affected is much smaller than nat cats
300
This is the minimum resolution accepted in terrorism analyses.
What is zip centroid
300
Terrorism loss agents: A) Are considered in the calculation of a terrorism hazard value B) Vary by attack mode C) Include clean-up and contamination removal D) A and B are the only true statements regarding terrorism loss agents. E) A, B, and C are all true statements regarding terrorism loss agents.
What is E) A, B, and C are all true statements regarding terrorism loss agents. Loss agents are those specific aspects of different attack modes that cause loss, and need to be factored into any assessment of attack mode hazard. There are many different loss agents, including clean-up and contamination removal.
300
This term is the portion of the AAL caused by losses greater than a specified threshold
What is Excess Average Annual Loss?
300
This peril code would be used for a wind-only (all wind perils) account
What is PWA?
400
Which two insurance coverages cover large scale and extreme scale terrorism events?
What is Large = TRIA, Extreme = TRIPRA
400
One challenge for probabilistic terrorism modelling
What is : 1) Lack of historical data on macro terrorism events 2) Terrorism is not random and includes a component of human intent 3) Large scale macro terrorism events can be made up of swarm attacks where multiple attacks make up one event 4) Terrorism is a dynamic peril
400
True or False - vulnerability is the same regardless of attack mode?
What is false?
400
List one possible uses for using event loss tables.
What are Post-Event loss modeling, alternative risk transfer deals, or capital allocation
400
This amount of storm surge is applied to a policy coded as PWH (tropical cyclone only) and storm surge is checked as an analysis option.
What is 5%?
500
The assessment of terrorism risk requires an understanding of _____________, targeting preferences, and the capability to acquire and deploy different attack modes.
What are applicable threat groups?
500
In order to model the hazard for a terrorism blast attack at a building not included in the RMS target database, it is necessary to utilize the terrorism simple footprint because: A) It better reflects local environment and orientation of the hazard footprint. B) It is best suited for dispersion type events. C) It can be placed and modeled anywhere. D) All of the above correctly explain why we must use the terrorism simple footprint in this situation. E) A and B are the only correct explanations. F) B and C are the only correct explanations.
What is C) It can be placed and modeled anywhere. The RMS simple terrorism footprints define hazard levels at uniform distances from an attack centroid, whether user defined or at an RMS-defined target. However, it does not reflect the local environment or orientation of the hazard footprint better than a VRG footprint, and is not suited for dispersion type events.
500
These are the mean damage ratio and mean casualty ratio calculations, used to express vulnerability.
What is physical damage/values (property) and # of people injured/total # of people (casualty)?
500
List three of the five parameters are found within a RMS Event Loss Table (ELT)
What are: Event ID, Mean Loss, Standard Deviation, Event Rate and Exposure
500
This is the maximum level of geocoding match the AIR European model can utilize.
What is Postal?