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Bust 321:Risk Managment And Insurance Question Paper

Bust 321:Risk Managment And Insurance 

Course:Bachelor Of Education Arts

Institution: Chuka University question papers

Exam Year:2010



INSTRUCTIONS:
Answer any four questions.
All questions carry equal marks.
Do not write on the question paper.
Q.1 (a) Using illustrations and examples, explain the principle methods of handling risk in a big organization. [10 marks]
(b) Discuss the relevant benefit of insurance in the Kenyan economy. [15 marks]
Q.2 Explain how the general law of contract applies to insurance contract. Cite case laws where necessary. [20 marks]
Q.3 (a) Outline facts that do and do not have to be disclosed in reference to the principle of utmost good faith. [15 marks]
(b) Explain why subrogation and contribution are corollaries of indemnity. [10 marks]
2
Q.4 (a) Discuss the components of an insurance policy document. [15 marks]
(b) Distinguish between
(i) Unit linked and Whole life policies
(ii) Term Assurance and Endowment Policies [10 marks]
Q.5 (a) Discuss Burglary Insurance
(b) Explain the reasons for regulating Insurance industry. [10 marks]
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