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Hps2209:Operations Management Question Paper

Hps2209:Operations Management

Course:Bachelor Of Supplies Management

Institution: Meru University Of Science And Technology question papers

Exam Year:2014

QUESTION ONE (30 MARKS)
a. Explain the nature of insurance (7 Marks) b. Explain clearly the concept of risk (5 Marks) c. Discuss the cost of risk in the Kenyan economy (6 Marks) d. The field of risk management and insurance has gained a lot of publicity to both the individuals and organization in Kenya. Citing relevant examples, explain the reasons for this phenomenon. (12 Marks)
QUESTION TWO (20 MARKS)
a. Discuss the risk control techniques used by risk managers in organizations (10 Marks) b. citing relevant case laws, discuss the essentials of an insurance contract (10 Marks)
QUESTION THREE (20 MARKS)
a. Explain clearly the relevant benefits and functions of insurance to a developing economy (12 Marks) b. Discuss the principle of utmost good faith as applied in insurance contract (8 Marks)
QUESTION FOUR (20 MARKS)
a. What do you understand by the term “insurance loss exposure”? Discuss the elements of a loss exposure (8 Marks) b. Insurance and risk financing is concerned with the source and cost of funds obtained for expenditure that results from the occurrence of losses. Discuss the financing options available to an organization (12 Marks)

Hps2209:Operations Management Question Paper

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