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Bms 101:Introduction To Insurance Question Paper

Bms 101:Introduction To Insurance 

Course:Bachelor Of Commerce

Institution: Kenyatta University question papers

Exam Year:2014



INSTRUCTIONS
Answer question ONE and any other TWO
QUESTION ONE ( 30 MARKS)
a) Prevention of loss is desirable because we gain a lot from preventing a loss. Explain citing examples FOUR classes of prevention and protective efforts (8 marks)
b) You have been appointed the risk manager of Kenyatta University. Describe the different steps you will undertake in developing a risk management plan (9 marks)
c) Briefly explain four ways to increase efficiency by reducing risk and uncertainty (8 marks)
d) Describe any two types of Business insurance (5 marks)
QUESTION TWO (20 marks)
a) Joseph would wish to take an insurance cover for his business. Explain to him any five features of a valid insurance contract (10 marks)
b) Briefly explain the economic and social significance of insurance in Kenya (10 marks)
QUESTION THREE (20 marks)
Discuss any four basic principles of law governing general insurance in Kenya (20 marks)
QUESTION FOUR ( 20 marks)
a) Describe how the insured party may claim pro-rate refund of premium if the insurer cancels the policy (6 marks)
b) Explain the concept of risk outlining the different types of risks (14 marks)






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