Insurance Practice/ Risk Management(Buss 043) Question Paper

Insurance Practice/ Risk Management(Buss 043)

Course:Business Administration

Institution: Kenya Methodist University question papers

Exam Year:2013

TIME: 2 HOURS

INSTRUCTIONS: Answer Question One in Section A Compulsory and TWO Questions in Section B
SECTION A
Question One
a) Define the following terms as used in insurance practice. (10marks)
i) Risk
ii) Uncertainty
iii) Hazard
iv) Peril
v) Risk Management

b) Explain at least FIVE types of Insurance. (10marks)

c) Discuss the benefits of risk management to an organization. (10marks)

SECTION B
Question Two
a) Describe any FIVE types of risk. (10marks)

b) Discuss any FIVE sources of risk for an enterprise. (10marks)

Question Three
a) Enterprise risks may be broadly categorized into various categories.
Explain at least five of them. (10marks)

b) Briefly explain the contents of the policy proposal form. (10marks)

Question Four
a) Discuss the major classifications of insurance of companies. (10marks)

b) Describe the methods you would use to manage risk in your
organization. (10marks)

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