AEA507 - Agricultural Risk Management

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NATIONAL OPEN UNIVERSITY OF NIGERIA

University Village, Nnamdi Azikiwe Expressway, Plot 91, Cadastral Zone, Jabi, Abuja

Faculty of Agricultural Sciences, Dept. of Agricultural Economics and Extension,

PoP Examination Questions, November/December, 2019

Programme: Agricultural Extension and Management

Course Title: Agricultural Risk Management

Course Code: AEA 507

Credit Unit: 2

Total Score: 70Marks

Time Allowed: 2Hours

INSTRUCTION: Answer four (4) questions in all. Question one (1) is Compulsory and carries 25marks. All other questions carry 15marks each.

1a Define the terms

i. Risks (2.5marks)

ii. Agricultural risk (2marks)

b. State the five (5) deductions underlining the nature of agricultural risk (5marks)

c. i. State the major sources of risks and their implication on agricultural production (12.5marks)

ii. List the six (6) types of risks in agricultural production (3marks)

2 a. What do you understand by the term Agriculture? (2.5marks)

b. Mention and explain the nature of agricultural products (12.5marks)

3a. Explain briefly any three (3) of the effects of risk on the following sub-headings:

i.Production

ii.On-farm and off-farm diversification

iii.Investment

iv.Welfare of Producers (9marks)

b. Differentiate between Idiosyncratic risk and systemic risk with suitable examples (6marks)

4. Based on the definition of risk management; highlight at least ten (10) principles involve in risk

management. (15marks)

5a. Expatiate with suitable examples what you understand by risk transfer or risk sharing (2 ½ marks)

b. Express the five (5) major forms of risk transfer or risk sharing contracts. (12 ½ marks)

6 a. Discuss briefly on the Evolution of Agricultural Insurance in Nigeria. (10marks)

b. State the problems militating against Nigeria Agricultural Insurance Scheme. (5marks)

					
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