Fundamentals of Insurance Important Questions [Dibrugarh University BCOM 5th SEM CBCS Pattern]

Total Marks: 100

Final Exam: 80

Internal Assessment: 20

Final Exam:

-          MCQs = 1*8 = 8

-         Short Notes = 4*4 = 16

-         Long Answers = 4*14 = 56

1. Focus on MCQs

2. Last Three Exams Question Papers

3. Attempt each and every questions as per your knowledge

4. Focus on VVI Question as given in this video

Q. What is insurance? Explain the need and importance of insurance to an individual and to the society. 2022

Q. What is insurance? What are its various types? Distinguish between life insurance and general insurance.

Q. Explain the fundamental principles of insurance (Both life insurance and general insurance). 2023

Q. Discuss the role of insurance as a ‘social security tool’ with suitable example.  2023

Q. Discuss about the history of insurance legislation in India. 2022

Q. Explain the role of insurance in the economic development of our country with specific reference to LIC India.

Q. Define insurance agent. Explain the code of conducts laid down for an insurance agent.  2022

Q. What are the Pre-requisites for obtaining insurance licence for agents. What is the validity of license? 2023

Q. Under what circumstances can an insurance agent’s license be cancelled? Discuss.    2023

Q. Explain insurance intermediaries in India. Discuss the functions of insurance intermediaries in Indian insurance industry.  2022, 2023

Q. Explain the procedure of becoming insurance agents in India. How the appointment of agent can be revoked or terminated?

Q. What is IRDA? Explain the objectives and functions of the IRDA in regulating insurance activities in our country. 2023

Q. Discuss the role of IRDA in controlling and regulating insurance business.  2022, 2023

Q. Explain in brief the history of IRDA.     2023

Q. Explain the provisions of IRDA regarding:

(1) Tariff Advisory Committee.

(2) Investment of funds by insurance companies.

(3) Unfair practices by insurance agents

Q. What is Proposal form? Write a detailed note on insurance proposal form and other forms.   2022

Q. Discuss the functions of an insurance agent. Explain how insurance agents provide personalized guidance to policyholders.   2023

Q. What is ‘nomination’ and ‘assignment’ in insurance? Distinguish between ‘nomination’ and ‘assignment’ in the context of insurance. 2023

Q. Explain in details the necessity of nomination in insurance policy. What is the need of policy assignment?

Q. What is claims? What are its various types? How a claim is settled (Procedure)?

1. Re-insurance

2. Double Insurance

3. Physical and Mental hazard

4. Agent’s compensation

5. Medical underwriting

6. Material information

7. Promotional schemes for insurance agents