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Hps2310:Ethics In Purchasing Question Paper
Hps2310:Ethics In Purchasing
Course:Bachelor Of Supplies Management
Institution: Meru University Of Science And Technology question papers
Exam Year:2014
QUESTION ONE – 30 MARKS
Mary who is sixteen years old heard the door bell ring at mid-night. When she opened the door, a man forced his way into the house and assaulted her at gun point.
The police caught the assailant who posted bail and later pleaded guilty to the assault. On the date of sentencing, he failed to appear and forfeited the bond. As a result of the assault, Mary is experiencing severe physical and emotional problems and fears that the assailant may return. The shocking attack that Mary experienced shows clearly that we in a risk world. Other tragedies occur daily foreign terrorists and suicide bombers periodically kill or maim thousands of by standers throughout the world.
Innocent children die as a result of gang-drive by shootings. Motorists are killed or severely injured by drunk drivers. Home owners lose their homes, and personal properly because of fire, floods, hurricanes, earthquakes and other natural disasters. Others incur catastrophic medical bills and the loss of earnings because of heart attacks, cancer, Aids or other diseases.
Others face financial ruin because they negligently injure someone and cannot pay a liability judgment and other legal expenses. In relation to the case above, answer the following questions.
i. Identify and explain clearly the major types of risks in the case above. (10 Marks) ii. Explain the basic methods that Mary would apply to handle the risk exposures. (15 Marks) iii. Giving examples, explain the differences between peril and hazards. (5 Marks)
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QUESTION TWO – 20 MARKS
a. Discuss the principle of insurable interest outlining its application in insurance management. (6 Marks) b. Discuss the significance of insurance to the individual, business and the society. (14 Marks)
QUESTION THREE – 20 MARKS
a. In the management of risk exposure, a risk manager should analyze all the elements of the loss exposure. Briefly discuss the elements that the risk manager should consider in a risk management program. (10 Marks) b. Examine the ways in which supervisory role of insurance activities is exercised by the insurance regulation authority under insurance act chapter 487 of Kenya laws. (10 Marks)
QUESTION FOUR – 20 MARKS
a. You have been appointed a risk manager of ABC Ltd. Explain to the company management how you would control and minimize loss prior at the time and following the happening of an event. (12 Marks) b. Briefly discuss the four techniques of identifying risk in an organization. (8 Marks)
QUESTION FIVE – 20 MARKS
a. Insurance market is dynamic and is influenced by three important factors. Discuss these factors. (10 Marks) b. Explain any five policies that the owner of Nakumatt supermarket can take to protect the business. (10 Marks)
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