LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
B.Com. DEGREE EXAMINATION – COMMERCE
FIFTH SEMESTER – APRIL 2012
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.