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Hps2111:Quality Management Question Paper

Hps2111:Quality Management

Course:Bachelor Of Supplies Management

Institution: Meru University Of Science And Technology question papers

Exam Year:2011

QUESTION ONE – (30 MARKS)
(a) Explain clearly the concept of risk. (4 Marks) (b) Discuss the principle methods of handling risk giving examples. (10 Marks) (c) Joel Hatari borrowed Ksh.5,000,000 from KCB Ltd to purchase a fishing boat. He keeps the boat at the dock owned by the Pwani Company Ltd. he uses the boat to earn income by fishing. Joel has also a contract with Double Fine Fishing Company to transport Shrimp from one part to another along African Coastline. Explain the existence and extent of insurable intest for: (i) KCB Ltd. (5 Marks) (ii) Pwani Company Ltd (5 Marks) (iii) Double Fin Fishing Company (6 Marks)
QUESTION TWO – (20 MARKS)
(a) “Although no risk is completely meets all ideal requirement of insurable risk, some come closer to meeting them than others,” Explain the ideal requirement of an insurable risk. (10 Marks) (b) A wall of a building was damaged in Meru Town and remained standing for several weeks. The municipal authority for the sake and public safety, ordered is demolished. While demolishing the wall damaged the adjoining building owned by Kariuki.
Required: (i) Indicate the proximate cause of the damage to Kariuki’s building. (2 Marks)
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(ii) Explain the position of Kariuki regarding insurer’s compensation. (3 Marks) (iii) Differentiate fundamental and particular risk. (5 Marks)
QUESTION THREE – (20 MARKS)
(a) Explain the cost of risk to the economy. (7 Marks) (b) Discuss the circumstances under which the tenet of Uberrimae Fedei does apply in Insurance contract. (7 Marks) (c) Explain the following legal doctrines (i) Misrepresentation (2 Marks) (ii) Concealment (2 Marks) (iii) Warranty (2 Marks)
QUESTION FOUR – (20 MARKS)
(a) What are the functions of an agent. (5 Marks) (b) Discuss the importance and components of an insurance policy document. (8 Marks) (c) Explain the functions of the insurance regulatory authority. (7 Marks)
QUESTION FIVE – (20 MARKS)
(a) Discuss the role of underwriting process. (5 Marks) (b) Explain the objectives of Risk management (5 Marks)

Hps2111:Quality Management Question Paper

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