Quantity Question

Quiz
1.) Risk for a given hazard is a measure of consequence and ________.?
a. cost
b. likelihood
c. fatal accident rate
d. equipment loss
2.) When considering hazard consequences, the following should be considered:1. personnel, 2. environment, 3.
equipment, 4. business liability, 5. frequency of occurence, 6. required documentation
a. 1,2,3,4
b. 1,2,3
c. 1,2,5
d. 5,6
3.) A hazard has an outcome consequence of 1 fatality per event. The unmitigated likelihood is once per twenty years. The
risk is
a. 5 fatalities per year
b. 0.1 fatalities per year
c. 0.05 fatalities per year
d. 20 fatalities per life
4.) A hazard has been analyzed and a PLL of 0.5 per event has been estimated. Event likelihood is estimated to be 0.01 per
year. Insurance actuaries have valued loss of life at $20,000,000. What is consequence per event in monetary terms?
a. $40,000,000
b. $20,000,000
c. $10,000,000
d. $200,000
5.) Environmental damage cleanup costs and fines for an event are estimated to be $7,000,000. To account for future
uncertainty, economic consequences are estimated at two times clean up cost. Event frequency is estimated to be 0.1 per
year. What is the risk cost due to environmental damage?
a. $70,000,000 per event
b. $1,400,000 per year
c. $140,000 per year
d. $700,000 per year
6.) Consequence analysis has produced estimates of PLL = 0.04, business loss = $8,000,000 and equipment damage =
$500,000 per event. What information is needed to calculate consequence in a unified variable?
a. Likelihood of the event
b. Tolerable risk level
c. Risk cost
d. Loss of life valuation
7.)
The following results are available from consequence and likelihood analysis:
PLL Events per year

Fire event 0.2 0.5
Explosion 2 0.01
Spill event 0.01 0.2
What is the risk integral in terms of PLL?
a. 0.122 per year
b. 2.21 per year
c. 0.032 per year
d. cannot be calculated with given information
8.) Tolerable risk levels have been established at PLL = 0.001 fatalities per year. A process unit has an unmitigated risk
estimate of PLL = 0.4. What is the required risk reduction factor?
a. 400
b. 4000
c. 0.001
9.) A risk reduction factor of 375 was calculated for a SIF. What SIL should be listed in the Safety Requirement
Specification?
a. SIL1
b. SIL2
c. SIL3
d. SIL4
10.) A risk reduction factor of 375 was calculated based on personnel protection. A risk reduction factor of 500 for the
same SIF was calculated based on economic protection. Which risk reduction factor should be listed in the Safety
Requirements Specification?
a. 375
b. 500
c. 1000
d. 100
Solution
1. Risk for a given hazard is a measure of consequence and ________.
a. cost
b. likelihood
c. fatal accident rate
d. equipment loss
Answer is b. Risk is a measure of consequence and likelihood.
2. When considering hazard consequences, the following should be considered:

1. personnel, 2. environment, 3. equipment, 4. business liability, 5. frequency of occurence, 6. required
documentation
a. 1,2,3,4
b. 1,2,3
c. 1,2,5
d. 5,6
Answer is a. frequency of occurence and required documentation are not consequence

considerations.
3. A hazard has an outcome consequence of 1 fatality per event. The unmitigated likelihood is once per twenty
years. The risk is:
a. 5 fatalities per year

b. 0.1 fatalities per year
c. 0.05 fatalities per year
d. 20 fatalities per life
Answer is c. Risk is determined by multiplying consequence times likelihood.

4. A hazard has been analyzed and a PLL of 0.5 per event has been estimated. Event likelihood is estimated to be
0.01 per year. Insurance actuaries have valued loss of life at $20,000,000. What is consequence per event in
monetary terms?
a. $40,000,000
b. $20,000,000
c. $10,000,000
d. $200,000
Answer is c. Consequence in monetary terms is the probability times the value.
5. Environmental damage cleanup costs and fines for an event are estimated to be $7,000,000. To account for future
uncertainty, economic consequences are estimated at two times clean up cost. Event frequency is estimated to be 0.1
per year. What is the risk cost due to environmental damage?
a. $70,000,000 per event

b. $1,400,000 per year
c. $140,000 per year
d. $700,000 per year
Answer is b. Risk cost equals consequence ($14,000,000) times likelihood.

6. Consequence analysis has produced estimates of PLL = 0.04, business loss = $8,000,000 and equipment damage =
$500,000 per event. What information is needed to calculate consequence in a unified variable?
a. Likelihood of the event

b. Tolerable risk level
c. Risk cost
d. Loss of life valuation
Answer is d. Probable loss of life must be converted into monetary value.

7. The following results are available from consequence and likelihood analysis:
PLL Events per year
Fire event 0.2 0.5
Explosion 2 0.01
Spill event 0.01 0.2
What is the risk integral in terms of PLL?
a. 0.122 per year
b. 2.21 per year
c. 0.032 per year
Answer is a. The risk integral is calculated by summing the products of consequence

and likelihood for each component.
8. Tolerable risk levels have been established at PLL = 0.001 fatalities per year. A process unit has an unmitigated
risk estimate of PLL = 0.4. What is the required risk reduction factor?
a. 400
b. 4000
c. 0.001
Answer is a. Risk reduction factor equals unmitigated risk divided by tolerable risk.
9. A risk reduction factor of 375 was calculated for a SIF. What SIL should be listed in the Safety Requirement
Specification?
a. SIL1
b. SIL2
c. SIL3
d. SIL4
Answer is c. SIL3 provides a minimum RRF of 1000. If SIL2 was selected, the RRF supplied by the SIF could be as
low as 100, below requirements.
10. A risk reduction factor of 375 was calculated based on personnel protection. A risk reduction factor of 500 for
the same SIF was calculated based on economic protection. Which risk reduction factor should be listed in the
Safety Requirements Specification?
a. 375
b. 500
c. 1000
d. 100
Answer is b. When different risk reduction factors are calculated, the highest value is
chosen since this value also satisfies the lesser requirements. These values would both
result in the selection of a SIL3 if risk reduction were specified in terms of a safety
integrity level.

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Quiz

1.) Risk for a given hazard is a measure of consequence and ________.?

c. fatal accident rate

a. 5 fatalities per year

b. 0.1 fatalities per year

c. 0.05 fatalities per year

d. 20 fatalities per life

b. $1,400,000 per year

c. $140,000 per year

d. $700,000 per year

a. Likelihood of the event

b. Tolerable risk level

d. Loss of life valuation

PLL Events per year

What is the risk integral in terms of PLL?

a. 0.122 per year

b. 2.21 per year

c. 0.032 per year

d. cannot be calculated with given information

d. cannot be calculated with given information

Answer is b. Risk is a measure of consequence and likelihood.

2. When considering hazard consequences, the following should be considered:

Answer is a. frequency of occurence and required documentation are not consequence

a. 5 fatalities per year

Answer is c. Risk is determined by multiplying consequence times likelihood.

Answer is c. Consequence in monetary terms is the probability times the value.

a. $70,000,000 per event

Answer is b. Risk cost equals consequence ($14,000,000) times likelihood.

a. Likelihood of the event

Answer is d. Probable loss of life must be converted into monetary value.

Answer is a. The risk integral is calculated by summing the products of consequence

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