Introduction To Insurance Question Paper

Introduction To Insurance

Course:Bachelor Of Commerce

Institution: Kenyatta University question papers

Exam Year:2008

KENYATTA UNIVERSITY
INSTITUTE OF OPEN LEARNING (IOL)
UNIVERSITY EXAMINATIONS 2007/2008
SUPPLEMENTARY/SPECIAL EXAMINATION FOR THE DEGREE OF
BACHELOR OF COMMERCE

BMS 101:
INTRODUCTION TO INSURANCE

DATE:
Monday 6th October 2008
TIME 1.00-3.00pm
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INSTRUCTIONS:
? Attempt question ONE and any other two.
? Marks will be awarded for explaining and use of appropriate examples.
Q.1
a)
Risk is the mother of insurance.

Discuss the above statement giving appropriate examples for each point.

(10marks)

b)
Give the main purposes the principles of utmost good faith and insurable

interest service in the insurance practice.

(10marks)

c)
Define the following terms:-

i)
Premium

(2marks)

ii)
Uncertainty

(2marks)

iii)
Peril

(2marks)

iv)
Hazard

(2marks)

v)
Assurance

(2marks)

(30 marks)

Q.2
a)
What is insurance underwriting?

(5marks)

b)
Discuss in details the process of insurance underwriting.
(10marks)

c)
Discuss the various types of insurance operations in Kenya. (5marks)

(20marks)
Q.3
Can the insurance industry achieve its objectives without the Government playing

a role in the achievement? Give a professional direction in this matter.

(20marks)
Q4
The Kenyan economic is faced with serious challenges. The concerned sections
of the government have set on finding out the key players in the strengthening of
the economy. As an insurer, what will you advice on the strategic contribution of
insurance in economic growth?

(20marks)

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