Fundamentals of Insurance Question Paper 2023
5 SEM TDC DSE COM (CBCS)
502 (GR-IV)
2023 (November)
COMMERCE (Discipline
Specific Elective)
(For Honours/Non-Honours)
Paper: DSE-502 (Group-IV)
(Banking
and Insurance)
(Fundamentals of
Insurance)
Full Marks: 80
Pass Marks: 32
Time: 3 hours
The figures in the margin indicate full marks for the questions
1. (a) Fill in the blanks of the following: 1x4=4
(1) _______ principle of insurance states
that the insured should receive compensation equivalent to the actual financial
loss suffered.
(2) The _______ act governs the fundamentals
of insurance agency in India.
(3) Life insurance sector was nationalized in
the year _______.
(4) In insurance contract, a person who
undertakes to bear the risk is known as _______.
(b) Write whether the following are True or
False: 1x4=4
(1) The principle of contribution in
insurance applies when multiple insurers provide coverage for the same risk.
(2) Unemployment insurance is a kind of
social insurance.
(3) The IRDA determines the pricing of
insurance products sold by intermediaries.
(4) The potential financial liabilities faced
by the insurance company is called physical hazard.
2. Write short notes on the following (any
four): 4x4=16
(a) Importance of insurance to an individual.
(b) Need of insurance.
(c) Code of conducts for an insurance agent.
(d) Agent’s compensation.
(e) Medical underwriting.
(f) Insurance proposal form.
3. (a) Discuss the role of insurance as a
‘social security tool’ with suitable example. 14
Or
(b) Explain the fundamental principles of
insurance. 14
4. (a) Under what circumstances can an
insurance agent’s license be cancelled? Discuss. 14
Or
(b) Explain the following: 7x2=14
(1) Insurance intermediaries in India.
(2) Pre-requisites for obtaining insurance
licence for agents.
5. (a) Explain the objectives and functions
of the IRDA in regulating insurance activities in our country. 14
Or
(b) Explain the following: 7x2=14
(1) The role of IRDA in protecting interests
of policyholders.
(2) The history of insurance legislation in
India.
6. (a) Discuss the functions of an insurance
agent. Explain how insurance agents provide personalized guidance to
policyholders. 7+7=14
Or
(b) What is ‘nomination’ in insurance?
Distinguish between ‘nomination’ and ‘assignment’ in the context of insurance. 4+10=14
Also Read:
Fundamentals of Insurance Question Paper Dibrugarh University BCOM 5th SEM
- Fundamentals of Insurance Question Paper 2022
- Fundamentals of Insurance Question Paper 2023
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