HS 490 Exam 1

Question 1

Morals:

Answer 1

(Internally imposed) A person’s internal standard of behavior or belief concerning what is and is not acceptable for them to do.

Question 2

Ethics:

Answer 2

(Externally defined) are the rules or standards governing the conduct of a person or member of a profession.

Question 3

Values:

Answer 3

the guidelines by which we make decisions about right and wrong, should and shouldn’t, good and bad. Belief structures of people or groups (or nations). High Level Goals

Question 4

Smart:

Answer 4

Specific, measurable, achievable, realistic, time bounded

Question 5

Validity:

Answer 5

The degree to which your research accurately represents the construct
Reliability

Question 6

NPV:

Answer 6

Calculation that compares the sum of the total amount invested today to the present value of the future cash receipts from the investment.

Question 7

Discount Rate:

Answer 7

Putting costs and benefits into today’s dollars. Cost of borrowing money.

Question 8

Be able to describe the term “Homeland Security” as used by the ERAU HS Program

Answer 8

The broad national effort by all levels of government – federal, state, local and tribal- to protect the people and territories of the United States from all threats and hazards both foreign and domestic in order to ensure liberty and the free flow of people and commerce.

Question 9

List / briefly describe the Cost-Benefit Analysis (CBA) type of economic analysis. Include in your answer what the CBA measures and how.

Answer 9

Monetize both the costs and the consequences, first monetized and then discounted into current/present dollars. Cost/benefit ratio Net Present Value or predetermined rate of return.

Question 10

Know what happens to the NPV as the discount rate goes up.

Answer 10

Your net value goes down. The more it costs to borrow the money (discount) the less profit you will have, in turn lowering the Net Present Value (Net benefits are tied to NPV, bottom like number goes down.

Question 11

Know what the NPV should be to accept a project, and how the Cost/Benefit ratio impacts NPV.

Answer 11

If the NPV is greater than 0 (known as the IRR (Internal Rate of Return)).

Question 12

List and describe the “5 keys to Professionalism”.

Answer 12

Character: moral or ethical quality; qualities of honesty, courage, or the like integrity, reputation
Attitude: manner, disposition, feeling, with regard to a person or thing; tendency or orientation of the mind
Excellence: fact or state of being the best
Competency: Quality of being good at what you do; having the required skills
Conduct: Personal behavior

Question 13

Character:

Answer 13

moral or ethical quality; qualities of honesty, courage, or the like integrity, reputation

Question 14

Attitude:

Answer 14

manner, disposition, feeling, with regard to a person or thing; tendency or orientation of the mind

Question 15

Excellence:

Answer 15

fact or state of being the best

Question 16

Competency:

Answer 16

Quality of being good at what you do; having the required skills

Question 17

Conduct:

Answer 17

Personal behavior

Question 18

Regarding how best to handle inherent uncertainty in all economic analyses, briefly describe what is meant by the “X-Files” principle. Offer a definition for and identify the two levels of sensitivity analysis.

Answer 18

Vary the discount rate 3%, vary the low cost/high cost, varying costs on items in a spreadsheet.

Question 19

Be able to list / briefly describe the 10 core academic areas of the ERAU HS program.

Answer 19

Intelligence
Law and Policy
Emergency Management
Risk Analysis
Critical Infrastructure
Strategic Planning
Strategic Communication
Terrorism Studies
Environmental Security
Cybersecurity