Explain the following principles of insurance: i. Utmost good faith. (3mks) ii. Indemnity (3mks) iii. Contribution (3mks) iv. Risk must attach (3mks)

QUESTION 1
a. Explain any five types of property insurances that are to be found (10mks)
b. Explain five factors influencing the supply of a commodity in the market. (10mks)

QUESTION 2
a. Write short notes on the following terms:
i. Peril and hazard (3mks)
ii. Credit creation by bank. (3mks)
iii. Reserve requirement by the bank. (3mks)
iv. Insurance underwriting (3mks)

c. Discuss any four factors that a bank manager would take into consideration when advancing money to a customer. (8mks)

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Explain the following principles of insurance: i. Utmost good faith. (3mks) ii. Indemnity (3mks) iii. Contribution (3mks) iv. Risk must attach (3mks)

Found something interesting ?

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