Principles of Insurance Paper 2024 [Dibrugarh University BCOM 2nd SEM FYUGP]

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

1. FINANCIAL ACCOUNTING (CORE):  2024
2. MINOR
- COST ACCOUNTING: 2024
- ADVERTISING MANAGEMENT: 2024
- LABOUR WELFARE: 2024
- PRINCIPLES OF INSURANCE: 2024
3. GENERAL ELECTIVE COURSE (GEC)
- BASICS OF INCOME TAX: 2024
- SALES MANAGEMENT: 2024
- CAREER PLANNING AND DEVELOPMENT: 2024
- RISK MANAGEMENT: 2024
4. ENVIRONMENTAL SCIENCE (VAC3): 2024
5. YOGA (VAC4): 2024
6. AECENG2 - ENGLISH LANGUAGE AND COMMUNICATION SKILL: 2024

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