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Bmgt 211:Introduction To Risk And Insurance December 2009 Question Paper

Bmgt 211:Introduction To Risk And Insurance December 2009

Course:Bachelor Of Commerce

Institution: Kabarak University question papers

Exam Year:2009

KABARAK UNIVERSITY
UNIVERSITY EXAMINATIONS
2009/2010 ACADEMIC YEAR
FOR THE DEGREE OF BACHELOR OF COMMERCE

COURSE CODE: BMGT 211

Answer Question ONE and any other TWO
1. The problem of the IDPs, drought and famine, fire tragedies of Nakumatt,
Sachangwan and Kapsoit have caused a lot of concern to the government and the
business community alike. The government blames the carnage on negligence on the
business operators while the business people claim that it is poverty, poor road
conditions e.t.c. that have attributed to this tragedy. The government has set up Hokoa
Maisha Taskforce to investigate the matter and come up with appropriate ways of
dealing with the situation.
a) Discuss with the Taskforce the importance of risk management and explain
how it relates to insurance. (6mks)
b) Explain to the Taskforce why the identification of hazards is an important
aspect of risk management. (8mks)
c) Discuss the responsibilities of the Commissioner of Insurance in the
supervision of insurance business in Kenya as provided in the Insurance Code.
(10mks)
d) Discuss the significant of risk classification by risk managers. (6mks)

2. (a) The Vice Chancellor of Kabarak University is very concerned with the possibility
lawsuit against the institution by students, employees, members of the public e.t.c.
Discuss with him the basic types of liability insurance that can be effectively
utilized to safeguard the University against the possibility of loss from such a suit.
(8mks)
b) Discuss the different variations and the use of term life policies in developing
countries. (12mks)

3. (a) The principles of indemnity and insurable interest are central to the contract of
insurance. Discuss their applicability on insurance contracts. (6mks)
b) Discuss the main underwriting considerations in life and fire insurance policies.
(8mks)
c) Explain why insurance companies find it appropriate to use the services of loss
adjusters. (6mks)

4. (a) Discuss how young parents can utilize endowment policies to cater for the future
various needs of their children. (8mks)
b) Discuss why insurance is the most effective method of risk management.
(12mks)

5. (a) Discuss the characteristics and any exclusions of marine insurance.
(12mks)
b) What is the role of homeowners’ insurance to property developers?
(8mks)

Bmgt 211:Introduction To Risk And Insurance December 2009 Question Paper

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