CO 5400 – INSURANCE

Date : 27-04-2012 Dept. No. Max. : 100 Marks

Time : 1:00 – 4:00

SECTION- A

Answer ALL the Questions in this section: (10 x 2 = 20 Marks)

Define the term ‘Insurance’.
What is meant by ‘Bonus in reduction of premium’?
Write the meaning of ‘Inchmaree Clause’ of Marine Insurance.
Write the meaning of ‘Jeevan Darang’- a newly launched policy of LIC.
What is meant by ‘Assignment’ with regard to Life Insurance?
What is ‘Doctrine of subrogation’, related to Insurance?
What is the meaning of ‘Adverse mortality selection’ that is one of the surrender charges in Life Insurance?
What is meant by the ‘principle of cooperation’ in Insurance?
What is ‘Reinsurance’?
What do you understand by the application of average clause in payment of insurance claim?

SECTION- B

Answer any FIVE Questions in this section: (5 x 8 = 40 Marks)

“Insurance is not to prevent risk, but to indemnify the losses arising from a certain risk”- Comment.
Distinguish between ‘Annuity Contracts’ and ‘Life Insurance Policies’.
What are the advantages of ‘Reinsurance’?
“Pure endowment grants protection against living long, while the term policy grants protection against living too short”. Discuss your views on this statement.
Critically examine the ‘Principles of Investment’ in relation to Insurance as laid down by Mr. A.H.Bailey.
Explain the various Marine perils.
Discuss the preventive efforts that could be taken to reduce the chance of occurrence of fire.
Explain the coverage and features of personal accident insurance.

SECTION- C

Answer any TWO Questions in this section: (2 x 20 = 40 Marks)

Discuss in detail the importance of Insurance from the view point of Individuals, Business enterprises and society.
Explain briefly the features of Life Insurance Contract.
List out and explain the different fire insurance policies.

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Loyola College B.Com April 2012 Insurance Question Paper PDF Download