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Introduction To Insurance Question Paper

Introduction To Insurance

Course:Bachelor Of Commerce

Institution: Kenyatta University question papers

Exam Year:2008

KENYATTA UNIVERSITY
UNIVERSITY EXAMINATIONS 2008/2009
FIRST SEMESTER EXAMINATION FOR THE DEGREE OF BACHELOR OF
COMMERCE
BMS 101: INTRODUCTION TO INSURANCE

DATE: Tuesday 2nd December 2008

TIME: 2.00pm-4.00pm

INSTRUCTIONS
? Attempt question one (COMPULSORY) and any other TWO.
? Start each question on a new page.
? Marks are awarded for proper explanation and use of appropriate examples.

QUESTION ONE:
Your country is undergoing a very difficult phase in its economic life. The problems range from inflation, high energy costs, declining water levels, climate change, crime increase to political problems. The government and Risk managers have differed sharply as to what is the best rescue plan to sustainable economic growth.

REQUIRED
Prepare a document to serve as a professional input in informing the decision of policy
makers in the following lines:-
i)
What the community can do to contribute positively. (10marks)
ii)
What the government can do to contribute positively. (10marks)
iii)
What the professional risk manager can do to contribute positively (10marks)

QUESTION TWO:
Insurance without an underwriter is like a pilot without a compass.
REQUIRED
a)
Comment on the above. (10marks)
b)
Discuss the process of underwriting. (10marks)
c)
What are the sources of information to the underwriter? (5marks)

QUESTION THREE:
a)
Explain the main challenges faced by the insurance industry in your country today. (10marks)
b)
Discuss the methods of handling risk in our society today. (10marks)

QUESTION FOUR:
“Every circumstance is material which would influence the judgment of a reasonable insurer in fixing the premium or determining whether he will take the risk or not”
a)
Discuss this statement in relation to contracts of insurance and quote any relevant case to support your answer. (5marks)
b)
List facts which a proposer for an insurance cover need not disclose. (8marks)
c)
List facts which a proposer for an insurance cover need to disclose. (7marks)

Introduction To Insurance Question Paper

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