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Bcom Bcom 440: Marine Insurance Question Paper

Bcom Bcom 440: Marine Insurance

Course:Bachelor Of Commerce

Institution: Chuka University question papers

Exam Year:2013

CHUKA

UNIVERSITY

UNIVERSITY EXAMINATIONS
FOURTH YEAR EXAMINATION FOR THE AWARD OF
DEGREE OF BACHELOR OF COMMERCE

BCOM 440: MARINE INSURANCE

STREAMS: BCOM Y4S1 TIME: 2 HOURS

DAY/DATE: FRIDAY 9/8/2013 2.30 PM – 4.30 PM

INSTRUCTIONS:

Answer Question ONE and TWO Questions

QUESTION ONE

(a) With specific reference to “insurable interest” discuss its different forms in marine insurance. [8 Marks]

(b) Concisely, explain and differentiate between ‘partial loss’ and’ general average loss’ as applied in marine insurance. [6 Marks]

(c) Discuss the main factors which determine the rating of marine hull risks. [7 Marks]

(d) Discuss the marine perils as encountered in marine insurance. [9 Marks]

QUESTION TWO

(a) Whilst the general policy format of marine insurance policy has remained the same over the ages several policy types have been used in effecting marine insurance. Discuss the various types of policies used in marine insurance today. [10 Marks]

(b) The British institute and Board of marine underwriters have developed clauses to cover the hull, cargo and freight risks. Explain five hull institute clauses. [10 Marks]

QUESTION THREE

You have been employed as an underwriter in Mambo insurance company limited and Chuka University insurance club members have invited you, you are requested to give a speech on effecting marine insurance. [20 Marks]

QUESTION FOUR

(a) Discuss the types of marine insurance. [10 Marks]

(b) Explain the following as used in relation to marine insurance

(i) Marine adventure
(ii) Maritime perils
(iii) Defensible interest
(iv) Respondentia
(v) Inchmaree clause [10 Marks]

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Bcom Bcom 440: Marine Insurance Question Paper

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