a) Explain FIVE principles that must be observed for an insurance contract to be valid and enforceable. (10 marks)
b) Distinguish between 'assurance' and 'insurance', giving ONE example of each. (4 marks)
c) State TWO benefits of insurance to the national economy. (2 marks)

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a) Explain FIVE principles that must be observed for an insurance contract to be valid and enforceable. (10 marks) b) Distinguish between 'assurance' and 'insurance', giving ONE example of each. (4 marks) c) State TWO benefits of insurance to the national economy. (2 marks)

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