Most candidates could not differentiate between contract of Indemnity and a contract of non- Indemnity. The part (b) which is on the importance of insurance to a business was well attempted by the candidates. The difference in Indemnity and non –Indemnity insurance is that in Indemnity insurance the insured is restored to his former position before the occurrence of the risk insured against while in non-Indemnity insurance, the insured is compensated because the insurer cannot restore life.