Principles of Insurance (INSC2101)
Higher Institute of Commerce and Management (HICM)
Semester: First Semester
Level: 200
Year: 2019
THE UNIVERSITY OF BAMENDA
HIGHER INSTITUTE OF COMMERCE AND MANAGEMENT (HICM) INSURANCE AND SECURITY
ACADEMIC YEAR 2018-2019
PRINCIPLES OF INSURANCE: FIRST SEMESTER EXAMINATION Lecturer: Dr Ndenka Aaron
Time: 2 hr
Instructions: Answer all questions.
1. a) What do you understand by pooling of risks?
b) Distinguish between risk and uncertainty.
c) State the characteristics of an insurable risk.
2. a) What is an underwriter?
b) What are the four main types of marine loss?
3. The principle that certain types of insurance should be compulsory has existed for many
years. Discuss this principle, giving examples or reasons in support of the need for
compulsory insurance.
4. a) What is insurable interest?
b) What are voidable contracts of insurance?
END
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