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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:2013

KENYATTA UNIVERSITY
UNIVERSITY EXAMINATIONS 2012/2013
SECOND SEMESTER EXAMINATIONS FOR THE DEGREE OF THE BACHELOR OF
COMMERCE
BMS 101: INTRODUCTION TO IN SURANCE

DATE: THURSDAY 11TH APRIL 2013 TIME: 11.00A.M-1.00P.M

INSTRUCTIONS
Question ONE is Compulsory
Answer any other Two

1.a) john ibtends to start a manufacturing firm in Nairobi. Explain FIVE methods of handling risks based on the frequency and severity of risks in insurance.
(15 marks)
b) Explain to John the steps of Risk management. (15 marks)
2. After completing univerdity, you have been employed as an Underwriter in one of the insurance companies in Nairobi, as part of your work you need to explain to the clients the factors that determine the rating of premiums in various classes of insurance. With examples demonstrate how the followimg classes can be explained.
a) Motor insurance (5 marks)
b) Medical insurance (5 marks)
c) House/domestic package insurance (5 marks)
d) Business insurance (5 marks)
3.Discuss Liability risks and how they could arise
a)Product Liability (5 marks)
b)Legal Liability (5 marks)
c)Professional Practice (5 marks)
d)Engineering and contractors risks (5 marks)
4.a) George intends to start a brokerage fiem. Advise him on the challenges that he is bound to face as an insurance broker (10 marks)
b) Explain to him the role of the Insurance regulatory authority (10 marks)

Bms 101: Introduction To Insurance Question Paper

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