Hbc2109:Insurance And Risk Management Question Paper
Hbc2109:Insurance And Risk Management
Course:Bachelor Of Commerce
Institution: Meru University Of Science And Technology question papers
Exam Year:2011
QUESTION ONE – (25 MARKS)
(a) Explain clearly the classification of risk and point out the relevance of each class in the insurance industry. (10 Marks) (b) Discuss the risk control techniques used by risk managers in big organization. (10 Marks) (c) Explain the basic mechanism under which insurance operate taking into consideration the law of large number. (10 Marks)
QUESTION TWO – (20 MARKS)
(a) Discuss the relevant benefits of insurance in the Kenya economy. (10 Marks) (b) Distinguish between insurance and wagering. (10 Marks)
QUESTION THREE – (20 MARKS)
(a) Discuss the principle of utmost good faith as applied in insurance. (10 Marks) (b) Explain the content of policy document used in insurance. (10 Marks)
QUESTION FOUR – (20 MARKS)
(a) Distinguish between insurance brokers and insurance agents. (10 Marks) (b) Discuss the legal and statutory control of insurance industry in Kenya. (10 Marks)
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