Principles of Insurance
Paper 2024
Dibrugarh University BCOM
2nd SEM FYUGP
COMMERCE (Minor)
Full Marks: 80
Pass Marks: 24
Time: 3 hours
The figures in the margin indicate full marks for the questions
Paper: MINBNI2
(Principles of Insurance)
1. Write True or False of the following: 1x5=5
(a) The main purpose of reinsurance is to maximize profits for
insurers.
(b) One of the characteristics of non-life insurance policy is
limited policy duration.
(c) The main function of insurance regulators is to fix insurance
premium rates.
(d) Group insurance has higher coverage limit.
(e) Whole life policy provides coverage for the entire life of the
insured.
2. Fill in the blanks of the following: 1x3=3
(a) _______ principle of insurance states that the insured must have
a financial interest in the subject matter of the insurance.
(b) An insurance contract defining its terms and conditions known as
_______.
(c) Life Insurance Corporation of India was established in the year
_______.
3. Write short notes on any four of the following: 4x4=16
(a) Rider Premium.
(b) Surrender Value.
(c) Insurance Life Cycle.
(d) Benefits of Annuity.
(e) Principles of Utmost Good Faith.
(f) Unit-linked Insurance Policy.
4. (a) What is risk management by individuals? Discuss about the
different classes of insurance in detail.
4+10=14
Or
(b) Discuss about the role played by insurance in the economic
development of our country. 14
5. (a) Discuss about different types of insurance personal
associated with commercial insurance. 14
Or
(b) Write a detailed note on the evolution and growth of Life
Insurance Organizations in India.
6. (a) What is group insurance? Discuss the advantages and
limitations of group insurance. 3+7+4=14
Or
(b) Explain the following: 7+7=14
(i) Surrender Value vs. Paid-up Value.
(ii) With Profit Policies vs. Without Profit Policies.
7. (a) What is non-life insurance? Discuss the features and benefits
of non-life insurance policy. 3+11=14
Or
(b) Discuss the power and functions of IRDA in regulating Indian
insurance sector. 14
Or
(c) Explain the main constituents of the insurance market in India. 14
Also read: DIBRUGARH UNIVERSITY BCOM 2ND SEM QUESTION PAPER
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