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Bms 101 Introduction To Insurance Question Paper

Bms 101 Introduction To Insurance

Course:Bachelor Of Commerce

Institution: Pwani University question papers

Exam Year:2013

PWANI UNIVERSITY
EXAMINATIONS FOR THE DEGREE OF BACHELOR OF COMMERCE
END YEAR EXAMINATIONS
BMS 101 INTRODUCTION TO INSURANCE

INSTRUCTIONS
Answer question ONE and any other THREE questions.
Question One
Insurance may be defined as the process of collecting money into a “pool” out of which the contributions, who suffer losses resulting from risks against which they want to protect themselves, are refunded so as to bring them back to the financial position they were before the loss occurred.
a)Critique this statement in view of some losses which have occurred and are unown to you.(8 marks)
b)How do you minimize risk of loss through accidents.(9 marks)
c)Why do people not readily insure themselves.(8 marks)
Question Two
Explain the following insurance Principles.
i)Indemnity(3 marks)
ii)Insurable Risks(3 marks)
iii)Insurable Interest(3 marks)
iv)Utmost Good Faith (uberrimae Fidei)(3 marks)
v)Subrogation(3 marks)
Question Three
Explain the use of the following types of Property Insurance (non-life Insurance)
i)Fire Insurance.(3 marks)
ii)Motor vehicle Insurance.(3 marks)
iii)Burglary Insurance(3 marks)
iv)Industrial Injury Insurance(3 marks)
v)Livestock Insurance(3 marks)
Question Four
Explain the application and the use of the following state insurance plans.
a)NSSF (National Social Security Fund)(8 marks)
b)NHIF (National Health Insurance Fund)(7 marks)
Question Five
Describe the essential features of an insurance contract.
Distinguish between insurance and assurance.(15 marks)
Question Six
Explain the meaning of the following:-
a)Insurance Policy(5 marks)
b)Contents of Insurance Policy(5 marks)
c)Insurable value(5 marks)

Bms 101 Introduction To Insurance Question Paper

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