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Bms 101: Introduction To Insurance Question Paper

Bms 101: Introduction To Insurance

Course:Bachelor Of Commerce

Institution: Kenyatta University question papers

Exam Year:2010

KENYATTA UNIVERSITY
UNIVERSITY EXAMINATIONS 2010/2011
INSTITUTIONAL BASED PROGRAMME (IBP) AUGUST SESSION
EXAMINATION FOR THE DEGREE OF BACHELOR COMMERCE,
BACHELOR OF ECONOMICS, BACHELOR OF EDUCATION ARTS.

BMS 101: INTRODUCTION TO INSURANCE

DATE:
Tuesday 28th December 2010
TIME:
11.00a.m -1.00p.m
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INSTRUCTIONS:
Attempt Question ONE and any other TWO Questions.

Q.1) a) Define the following insurance terminologies:-
i) Insurable interest (2 marks)
ii) Uncertainty (2 marks)
iii) Peril (2 marks)
iv) Risk identification (2 marks)
v) Premium loading (2 marks)

Total (10 marks)

b) Discuss the requisites of insurability in the modern
insurance practice (14 marks)

c) The world economic crisis has forced people globally to make hard
financial choices. There have emerged two schools of thought, namely
those for insurance protecting and those against insurance protection.
Discuss the factors against insurance protection for the benefit of helping
the people to make an informed choice. (6 marks).

Total (30 marks)

Q.2) a) Explain the purpose and the intention of the principle of proximate cause
clearly justifying how it fits in the insurance practice. (8 marks)
b) Discuss the principle of indemnity and explain the method
of its provision. (7marks)
b) Outline and explain the participants in the insurance
Markets. (5 marks)

Q.3) a) Discuss the concept of risk (5 marks)
b) In common business conversations, how is the word risk used? (5 marks)
c) Discuss the classification of risk. (10 marks)

Total(20 marks)

Q.4) What are the challenges of the insurance industry in Kenya
Discuss giving appropriate examples where necessary. (20 marks)
Total (20 marks)

Bms 101: Introduction To Insurance Question Paper

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