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Insurance And Risk Management - Bmgt 211 Question Paper

Insurance And Risk Management - Bmgt 211

Course:Bachelor Of Commerce

Institution: Kabarak University question papers

Exam Year:2010

COURSE CODE: BMGT 211
COURSE TITLE: INSURANCE AND RISK MANAGEMENT
STREAM: Y2S1

INSTRUCTIONS:
1. Answer any FOUR questions
2. All questions carry equal marks

QUESTION ONE
(a) Define the term Insurance as used in contemporary society? (2 marks)
(b) Discuss the Common characteristics of insurable risk (8 marks)
(c) Briefly write on the following terms as used in insurance
i. Insurance Policy
ii. Risk management
iii. Underwriting
iv. Actuaries
v. Assignment
(10 marks)
QUESTION TWO
(a) Insurance and any other discipline has its own principles that determine the extend to
which its activities are bound to. In light of this statement, discuss the Legal principles
governing the practice of insurance (10 marks)
(b) Explain using examples the types of Insurance Loss Exposures (10 marks)
QUESTION THREE
(a) Risk is not a risk unless it causes financial, physical or emotional damage. Explain the
types of risks available in the field of insurance (10 marks)
(b) Discuss the objectives of risk management (10 marks)

QUESTION FOUR
(a) Describe the principles of risk management (10 marks)
(b) Elucidate on the steps followed when undertaking a risk management as a strategy
(10 marks)
QUESTION FIVE
Discuss using corporate examples the types of Commercial Crime insurance experienced today
(20 marks)
QUESTION SIX
(a) What is Reinsurance? Explain the different re-insurance strategies that may be applied by
a reinsurance firm Pooling (10 marks)
(b) Discuss the contemporaries issues affecting the insurance industry today (10 marks)

Insurance And Risk Management - Bmgt 211 Question Paper

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