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CM 2113 > Chao Exam 1 > Flashcards

Chao Exam 1 Flashcards

1
Q

Payments that differ in amount may be equal if made at different points in time is known as ____________.

A

Equivalence

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2
Q

The Time Value of money is based on the premise that money can generate _______ over a period of time.

A

Interest

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3
Q

Comparing a future cost of one alternative with the present worth cost of a second alternative is valid and meaningful.

A

False

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4
Q

The reason why the value of money increases with time is because of the interest rate.

A

True

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5
Q

Book Value is the _________ less the depreciable value.

A

Initial Cost

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6
Q

The _________________ of depreciation claims a constant amount on taxes each year.

A

Straight Line Method

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7
Q

__________ is an artificial expense of an estimated loss that can offset income taxes over a period of years.

A

Depreciation

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8
Q

Equipment depreciation is a/an ___________.

A

Ownership Cost

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9
Q

Equipment maintenance and repair is a/an ___________.

A

Operating Cost

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10
Q

Equipment service is a/an ___________.

A

Operating Cost

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11
Q

Equipment storage is a/an ___________.

A

Ownership cost

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12
Q

Fuel to run the equipment is a/an ___________.

A

Operating Cost

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13
Q

Interest paid to finance the cost of the equipment is a/an ___________.

A

Ownership Cost

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14
Q

Operating costs tend to ________ over time

A

Increase

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15
Q

Ownership costs tend to ________ over time

A

Decrease

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16
Q

Replacing equipment tires are a/an ___________.

A

Operating Cost

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17
Q

Taxes paid on the purchase of a piece of equipment are a/an ___________.

A

Ownership Cost

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18
Q

The equipment operator is a/an ___________.

A

Operating Cost

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19
Q

O&O costs are usually expressed in dollars per equipment operating hour.

A

True

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20
Q

TIres for wheel-type equipment are a major operating cost, because they have a short life in relation to the iron of a machine.

A

True

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21
Q

Tire cost will include both repair and replacement charges, and the tire life is a function of both project application and equipment/project management.

A

true

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22
Q

Sound consists of pressure changes in a medium (usually air) caused by ___ or ___.

A

Vibration, turbulence

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23
Q

What is noise?

A

Unwanted sound

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24
Q

Between which frequencies is human hearing most sensitive to?

A

3,000 and 4,000Hz

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25
Q

What are the two factor that determine the amount of hearing loss a person experiences when exposed to loud noises?

A

Intensity and duration

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26
Q

Sometime, overexposure to loud noise can trigger ringing or other sounds in your ears, called ___.

A

Tinnitus

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27
Q

The first step towards solving any noise problem is to ___ it.

A

Define

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28
Q

ANSI Type 2 meters have an accuracy of ___.

A

±2 dBA

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29
Q

According to OSHA’s noise standard 29 CFR 1910.95, the ___ is the primary instrument for making compliance measurement.

A

Noise dosimeter

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30
Q

Can overexposure to noise in the workplace occur where employees wear a communications headset?

A

True

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31
Q

When may noise be a problem in your workplace?

A

a. You hear ringing or humming in your ears when you leave work.
b. You have to shout to be heard by a coworker an arm’s length away.
c. You experience temporary hearing loss when leaving work

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32
Q

Typical engineering controls involve all of the following except ___.

A

b. Redesign of the equipment Correct

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33
Q

In situations where employees will be working on or around equipment fitted with engineering controls, it is important to explain to everyone involved why the controls should not be modified, removed, or otherwise defeated?

A

true

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34
Q

What are administrative controls?

A

Changes in the workplace that reduce or eliminate the worker exposure to noise.

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35
Q

Which of the choices below are examples of Administrative controls?

A

a. Provide quiet areas for workers

b. Restrict workers to a suitable distance away from noise

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36
Q

___ and ___ controls represent the first two primary strategies in the Hierarchy of Controls.

A

Engineering and administrative

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37
Q

What is considered the last option to control exposure to noise?

A

Hearing protection devices (HPDs)

38
Q

What are management’s two roles in ensuring that hearing protection devices protect hearing effectively?

A

Facilitation and enforcement

39
Q

Employees must make HPDs available to all employees exposed at or above the action level. These must be provided ___.

A

a. At no cost to employees

b. Must be replaced as necessary

40
Q

Employees must be given the opportunity to select their HPDs from a suitable variety. Generally, this should include a minimum of ___ devices, representative of at least two different types.

A

Two

41
Q

What is the “action level” at which the employer must institute a training program for all employees with noise exposures and ensure their participation?

A

85 dBA

42
Q

For complex jobs and those requiring concentration, studies show that greater efficiency is linked to ___.

A

Lower noise levels

43
Q

The ___ of employees is likely to be maintained when employees retain good hearing.

A

a. Versatility
b. Adaptability
c. Promotability

44
Q

Who is more at risk of developing hearing loss?

A

A worker exposed to noise the first 5-10 years

45
Q

Studies of noisy companies that have implemented hearing conservation programs show reductions in ___.

A

a. Accident rates
b. Illnesses
c. Lost time

46
Q

Many individuals are unaware of their hearing impairment until it is too late.

A

True

47
Q

Employers must monitor all employees whose noise expose is equivalent to or greater than a noise expose received in 8 hours where the noise level is constantly ___dB.

A

85

48
Q

Employers must provide ___ audiograms within 6 months of an employee’s first exposure at or above an 8-hour TWA of 85 dB.

A

Baseline

49
Q

Employers must provide annual audiograms within ___ year(s) of the baseline.

A

One

50
Q

For maximum protection of the employees (and for that matter, the company), audiograms should be performed on which of the following occasions?

A

a. Pre-employment. Prior to initial assignment in a hearing hazardous work area
b. Annually, as long as the employee is assigned to a noisy job (a time-weighted average)
c. At the time of reassignment out of a hearing hazardous job, and at the termination of employment

51
Q

Which question does the audit ask to help determine if the supervisor is committed to the hearing conservation program?

A

c. Do supervisors wear hearing protectors in appropriate areas? Correct

52
Q

Which question does the audit ask to help determine deficiencies in a hearing conservation program?

A

a. Was the success of each training program evaluated? Correct

53
Q

Select the general elements critical to a successful safety and health management system.

A

a. Management leadership and employee involvement
b. Worksite analysis
c. Hazard prevention and control, and Safety and health training

54
Q

In relation to a hearing conservation program what kind of culture should a corporate environment promote?

A

b. A safety culture Correct

55
Q

Training sessions should be mandatory not only for noise-exposed employees, but also for the supervisors and managers responsible for noisy production areas.

A

True

56
Q

How often should hearing loss prevention presentations be updated and presented to employees?

A

d. At least annually Correct

57
Q

What is the best way a program implementer can convey health promoting behaviors?

A

c. Focus on the real-life losses employees might expect if they don’t act to protect their hearing Correct

58
Q

Which of the choices below is NOT an industrial chemical that can cause hearing loss

A

Heat

59
Q

It is important that those involved in hearing loss prevention take into account exposure to chemicals while ___.

A

a. Monitoring for hazards and assessing hearing

b. Assessing hearing and controlling exposures

60
Q

T-BEAM surveys are focused on ___ instead of shifts or areas.

A

Tasks

61
Q

Person-centered models have been known to contribute to safe work behavior.

A

False

62
Q

The safety climate model can be broadly defined as the general level of ___ and commitment among management and workers in the organization.

A

Safety awareness

63
Q

what is the largest single equipment cost?

A

repair 37%

64
Q

Purchase price-salvage+overhead=

A

ownership expense

65
Q

Regardless of how much a machine is used, the owner must pay owning cost. true or false

A

true

66
Q

bulldozer new= 260,00
4 yr later= 120,000
ownership expense=?

A

140,000

67
Q 
Machine owning cost includes which of the expenses 
listed?
$ Repairs
$ Insurance 
$ Fuel
$ Taxes
A

insurance, taxes

68
Q

operating cost includes what

A
  • consumables(fuel, oil, grease)
  • repair
  • Maintenance
  • tires or tracks
  • high wear items
69
Q 
Machine operating cost includes which of the expenses listed?
$ Repairs 
$ Interest 
$ Tires
$ Taxes
A

repairs, tires

70
Q

A series of payments or receipts that occurs at the end of each period for n periods (not at the beginning of each period).

A

a uniform series of payments

71
Q

A decrease in value
○ Market value
○ Value to the owner
○ To offset income for tax purpose

A

Depreciation

72
Q

the value at the time of disposal or retirement

A

Salvage value

73
Q

initial cost less the depreciation to the equipment

A

Book value

74
Q 
subtracted from business revenues as they occur.
■ Labor
■ Utilities
■ Materials
■ Insurance, etc.
A

Expenses

75
Q

subtracted from business expenses over time as the asset is used up until the book value equals the salvage value. No further depreciation is allowed.

A

Depreciation

76
Q

the period over which an asset is depreciated (=recovery period).

A

Depreciation period

77
Q

purchase price less salvage value

A

Depreciable value

78
Q

Depreciation is used to allocate an asset’s ____ of value over time.

A

loss

79
Q

Depreciation is deducted from revenue and _______ the taxable income of a business over time.

A

reduces

80
Q

Depreciation is a cash flow on an _____ ___ _____.

A

after tax basis

81
Q

a property is deductible if it meets what three criteria

A
  1. The property is used for business purposes in the production of income.
  2. The property has a useful life that can be determined, and the useful life is longer than one year.
  3. The property decays, gets used up, wears out, becomes obsolete or loses value from natural causes.
82
Q

Simplest and best known depreciation method:
○ Annual depreciation amount = R(PPSV)
■ PP= dollar amount being depreciated (purchase price + any other costs to make the asset “ready for use”)
■ SV= salvage value
■ R= 1/N (R is the annual depreciation rate, N is depreciation period)

A

Straight -Line Depreciation

83
Q

This method results in larger than straightline depreciation charges during an asset’s early years and smaller charges as the asset nears the end of its depreciable life.
SumoftheYears (SOY) depreciation

■ Constant depreciation rate (either 150% or 200% of SL rate)
■ Double declining balance (DDB)200% of SL rate
○ Dm=2/N*(BVm1)

A

Declining Balance Depreciation

84
Q

is the system presently used by the US government.
■ The first and last years of the recovery period are each assumed to be half year.
■ Depreciation percentages continue for one year beyond the property class life (see. Table 113)

A

MACRS

85
Q

advantages of marcs

A

○ Property class lives are less than the
actual useful lives
○ Salvage values are assumed to be Zero for all assets
○ Tables of annual percentages simplify computations

86
Q

“An estimate of how long an item of property can be expected to be usable in trade or business or to produce income.”

A

Useful Life

87
Q

A number of years that establishes the property class and recovery period for most types of property under the General Depreciation System (GDS) and Alternative Depreciation System (ADS).

A

Class Life

88
Q

The number of years over which the basis of an item of property is recovered.

A

Recovery Period

89
Q

The ____ ______ drops fastest and furthest with MACRS, thus the present worth (NPW) is the largest for the MACRS depreciation deductions.

A

book value

90
Q

_________ deductions benefits a firm after taxes because they reduce taxable income and taxes.

A

depreciation

91
Q

The ___ ___ __ _____ ensures that it is better to take these deductions as soon as possible.

A

time value of money

92
Q

In general, _____, which allocates largest deductions earlier in the depreciation life, provides more economic benefits than historical methods.

A

MACRS

CM 2113 (3 decks)

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