PRINCIPLES OF INSURANCE 2005 (REGULAR)
Time : 3 Hours Max. Marks:100
Instruction: Attempt any FIVE questions.
1.a) insurance is a means to Spread Loss caused by risk”, Illustrate with the help of examples.
b) Insurance cannot prevent loss but compensate it.” Explain.
2.a) What do you mean by insurable and Uninsurable risks?
b) On the basis of different reasons. Show the classification of risk?
3. Define insurable interest. Is insurable interest necessary in all forms of insurance? If so, at what stages
4. Define the following terms.
(i) Utmost Good Faith, (ii) Proximate cause.
(iii) The Policy. (iv) Endowment Policy.
(v) Surrender value.
5. Describe in detail Government regulations for insurance industry.
6. Describe different triangles in detail.
7. Write notes on any THREE:
(a) Mutual reciprocals Organization.
(b) Government insurance. (c) Indemnity.
(d) Fidelity insurance (a) Subrogation.