A Finite Volume Method for the discretization of the two-dimensional incompressible Navier-Stokes equation is used to analyse water entry & exit problems in a generalized coordinate system. The free-surface deformations generated by the water entry or exit of a rigid body are simulated by the Level-Set scheme[11]. In the water entry problems for a wedged section and a flared-ship section, the calculation results of water impact force are compared with the experimental results[5] and the time varying free-surface deformations and flow characteristics of the water exit of a cylinder are investigated.