Theory question 106
Agricultural Finance(a) What is agricultural insurance?
(b) Define each of the following terms in agricultural insurance: (i) insurance policy. (ii) insurance premium.
(c) An agricultural extension agent organized a meeting with the groundnut farmers in a village in order to introduce a disease resistant variety of groundnut to them. (i) State four advantages of the agricultural extension method employed by the extension agent. (ii) Mention three other ways by which the information could be disseminated to the group of farmers.
(d) Enumerate five operations involved in the processing of rice after harvesting.
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(a) Agricultural insurance is an arrangement by which a farmer pays premiums to an insurer, who agrees to compensate the farmer for losses from named risks on the farm.
(b)(i) Insurance policy: the written contract between the insurer and the insured, stating the risks covered, premium and compensation.
(ii) Insurance premium: the amount the insured pays regularly to the insurer to keep the cover.
(c)(i) Group meeting (any four): reaches many farmers at once; cheaper per farmer; farmers can ask questions and discuss; farmers learn from one another; saves the agent's time; builds confidence to adopt the new variety.
(ii) Any three: method/result demonstrations; field trips/farm visits; radio and TV; posters, leaflets and newsletters; agricultural shows; use of opinion leaders.
(d) Any five: threshing; winnowing/cleaning; drying; parboiling; milling (dehulling); polishing; grading; bagging/packaging.
Name the method used: a group meeting.