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Commerce Paper 2, Nov/Dec. 2010  
Questions: 1 2 3 4 5 6 7 8 9 10 Main
General Comments
Strength
Weakness/Remedies
Question 5

(a) Differentiate between a contract of indemnity and a contract of non-indemnity.
(b) State five ways in which insurance is important to a business.

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observation

Most candidates distinguished between contract of indemnity and non-indemnity contract. In the part 'b' of the question, the candidates wrote one of the importance of insurance as reduction of lass which is not correct, But insurance can reduce or spread risks.

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