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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:2010

QUESTION ONE – (20 MARKS)
(a) Explain the concept of risk (10 Marks) (b) Distinguish between pure and speculative risk and indicate the relevance of the distinction. (5 Marks) (c) Discuss the nature of insurance. (7 Marks) (d) Explain the relevant benefit of insurance in development of commerce and industry. (8 Marks)
QUESTION TWO (20 MARKS)
(a) Discuss the importance of risk management to an individual business entity and the society at large. (10 Marks) (b) Clearly explain the nature of a desirable policy statement. (10 Marks)
QUESTION THREE – (20 MARKS)
Discuss the principles of indemnity and utmost good faith. Cite relevant case laws. (20 Marks)
QUESTION FOUR – (20 MARKS)
Insurance and risk management phenomenon are found everywhere. Business enterprises cannot eliminate the activities of insurance management all together, only it can be minimized. Modern businesses cannot therefore function properly without insurance. Discuss this argument.
(20 Marks)

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