| 1. |
__________ is the probability of a device or system performing its function adequately, for the period of time intended, under the operating conditions intended. |
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Reliability |
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Variability |
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Life span |
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Functionality |
| 2. |
Which of the following is a typical reliability indices used in power systems evaluation? |
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Load interruption indices |
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Loss of load probability |
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Frequency and duration indices |
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All of the above |
| 3. |
The installed capacity reserve relates to the long-term ability of the system to meet the expected demand requirements while the operating reserve relates to the short-term ability to meet a given load. |
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True |
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False |
| 4. |
A _________ outage is an outage that results from emergency conditions, requiring that the component be taken out of service immediately. |
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Scheduled |
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Timed |
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Forced |
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Unplanned |
| 5. |
In the following equation what does ‘ λ’ represent?
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unit repair rate |
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unit failure rate |
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mean time to failure |
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mean time to repair |
| 6. |
In the following figure what does R* stand for?
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Reliability standard |
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Reliability median |
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Reliability level |
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Reliability cost |
| 7. |
Market allocation is economically efficient and allows decentralized decision making and fosters individual choice. |
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True |
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False |
| 8. |
The _________ are investments in plant and equipment to provide physical infrastructure, industrial facilities, generation hardware and plant auxiliary services. |
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Fuel costs |
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Capital costs |
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Operation costs |
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Maintenance costs |
| 9. |
The process called__________, helps to limit shortage costs by protecting the integrity of the system and especially by decreasing the number of customers who would suffer interruptions of supply. |
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Load sharing |
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Load accumulation |
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Load shedding |
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None of the above |
| 10. |
In practice, there are no insurance markets for power outages. |
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True |
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False |
| 11. |
The CDF (customer damage function) displays outage costs expressed in kilowatts of annual peak demand i.e._______ for different customer categories and interruption durations. |
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$/kW |
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KW/$ |
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KW2 |
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No units |
| 12. |
A call option contract in financial markets gives its holder the right to buy an underlying asset (e.g. stock) for a specified price, called the strike price, on or before the maturity of the contract. |
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True |
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False |
| 13. |
All the economic costs suffered by consumers when electricity is not available are known as __________. |
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Outage costs |
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Surplus costs |
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Load costs |
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Maintenance costs |
| 14. |
In the following equation what does ‘C j ’ represent?
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Current probability of the j-th level |
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Available capacity of the j-th level |
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Constant at j-th level |
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None of the above |
| 15. |
PX -_______ , A market place for the trading of electric energy and other power-related services. |
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Power trading |
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Power Exchange |
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Power stock |
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Power services |
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