Get premium membership and access revision papers, questions with answers as well as video lessons.

Got a question or eager to learn? Discover limitless learning on WhatsApp now - Start Now!

Baf2206: Principles Of Risk Management And Insurance Question Paper

Baf2206: Principles Of Risk Management And Insurance

Course: Bachelor Of Business Administration

Institution: Mount Kenya University question papers

Exam Year:2019

QUESTION ONE
a)What is the difference between the following terms as used in the risk management. (10 marks)
i) Uncertainty versus risks
ii) Pure and speculative risks
iii)Fundamental and particular risk
iv) Risk and insurance
v) Moral hazard and adverse selection

b) State and explain various players in the insurance industry. (6 marks)

c) With the help of an example explain various types of pure risks.(6 marks)

d) Illustrate factors affecting choice between retention and transfer as a risk management approach.
(8 marks)

QUESTION TWO
a) Define the following terms as used in HAZOP. (12 marks)

i) Study nodes
ii) Intention
iii)Deviations
iv) Causes
v) Consequences
vi) Guide words

b)State and briefly explain the elements of insurance of an insurance transaction (8 marks)

QUESTION THREE
a)Catastrophe planning usually involves a fairly lengthy process of research and evaluation that ultimately yields a contingency plan for possible use in the event of catastrophe. State various activities that a catastrophe plan may include. (8 marks)

b) With the help of clearly illustrated examples explain various types of risk that a construction firm may face during the executed of their duties. (12 marks)

QUESTION FOUR
a) A good risk management plan must aim at achieving both the post lost objectives and the pre-loss objectives. Citing examples state and explain the post loss objectives of risk management plan (10 marks)
b) State and explain various characteristics of adoption of insurance as a risk management strategy.(10 marks)

QUESTION FIVE
a) State and explain the various players in insurance industry in Kenya. (10 marks)
b) Illustrate factors affecting choice between retention and transfer (10 marks)

Baf2206: Principles Of Risk Management And Insurance Question Paper

More Question Papers

Popular Exams