Insurance Management Question Paper May 2024 [Dibrugarh University BCOM 6th SEM CBCS Pattern]

Insurance Management Question Paper 2024 (May)
[Dibrugarh University BCOM 6th SEM CBCS Pattern]

COMMERCE (Discipline Specific Elective) (For Honours and Non-Honours)

Paper: DSE-602 (GR-IV) (Insurance Management)

Full Marks: 80 Pass Marks: 32

Time: 3 hours

The figures in the margin indicate full marks for the questions.

1. (a) Write whether True or False of the following: 1x4=4

i) Insurance contributes to economic development by promoting risk-taking and entrepreneurship.

ii) The main purpose of a premium receipt in insurance is to track investment performance of the insurance policy.

iii) The traditional life insurance policies typically offer fixed income on investment.

iv) Insurers charge an extra premium if the insured has a higher than average risk.

(b) Fill in the blanks of the following: 1x4=4

i) __________ document outlines the terms and conditions of an insurance policy.

ii) __________ is the total premium to be paid by a policyholder.

iii) Tax benefits under a life insurance policy may include deductions for premium paid under Section __________ of the Income-tax Act.

iv) Pension plans serve as a crucial tool for individuals to build a steady __________ during their retirement life.

2. Write short notes on any four of the following: 4x4=16

a) Advantages of Pension Plan

b) Surrender Value

c) Rebates on Premium

d) Group Insurance

e) Marine Insurance Policies

f) Functions of IRDA

3. (a) Discuss the various types of life insurance policies. 14

Or

(b) What are the different types of general insurance? Explain their importance. 14

4. (a) Explain the fundamental principles of insurance. 14

Or

(b) What are the different types of risks covered under insurance? Explain. 14

5. (a) What do you mean by reinsurance? Discuss its advantages and disadvantages. 14

Or

(b) Explain the concept of claim settlement in insurance. What are the procedures involved? 14

6. (a) What is the role of insurance in economic development? Explain with examples. 14

Or

(b) Discuss the role and functions of the Insurance Regulatory and Development Authority (IRDA). 14