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1. (a) What is the legal principle of utmost good faith? [4 marks] (b) The concept of utmost good faith principle is implemented by three

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1. (a) What is the legal principle of utmost good faith? [4 marks] (b) The concept of utmost good faith principle is implemented by three legal doctrines, what are these doctrines? [6 marks] (c) What is the principle of insurable interest? [4 marks] (d) Give one example on property for insurable interest. Explain how the principle of insurable interest applies to inventory loan from bank. [4 marks] (e) What are the purposes of an insurable interest? [4 marks] [Total: 22 marks]

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