PRINCIPLES OF INSURANCE 2007 (PRIVATE)
Time : 3 Hours Max. Marks:100
Instruction: Attempt any FIVE questions.
1. “Don’t put all eggs in one basket”. How can you correlate this phrase with Business Insurance?
2. Define following terms:
(i) Unearned Premium. (ii) Insurance Pool
(iii) lndiminity, (iv) Double Insurance.
3. Explain following with relationship of Insurance.
(i) Cession (ii) Retention (iii) Reinsurance (iv) Retrocession (v) Retrocessionaire.
4. Describe in detail procedure of Insurance contract canceling and termination.
5. Define risk management and also describe role of Insurance in risk management.
6.(a) Distinguish between Gove. Insurance and Private Insurance.
(b) Explain types of Insurance.
7. Write notes on any THREE of the following:
(i) Bloyds (ii) Cause Proxima (iii) Contribution (iv) Mitigation of Loss. (v) Insurance of Interest of Rights
8. Briefly define following Insurance Authorities or Institutions:
(i) IAC (ii) IBAC (iii) ICP (iv) FUS (v) CSIO