PRINCIPLES OF INSURANCE 2007 (REGULAR)
Time : 3 Hours Max. Marks:100
Instruction: Attempt any FIVE questions.
1 .(a) Define risk.
(b) What do you mean by following risk and also classify by insurability.
(i) Liability (ii) Personal (iii) Property
2. What do you mean by Perals and how can they be classified?
3. Explain in detail functions & usefulness of Insurance in Business and life of an individual.
4. Define following terms:
(i) Insurable Interest
(ii) Uberrima Fides
(iii) Cover Note
5. Describe basic principles of Insurance.
6.(a) Distinguish between Condition and Warranties.
(b) Explain in detail implied warranties of Insurance Contract.
7. Write notes on any THREE of the following:
(i) Marine Insurance
(ii) Insurance Procedure
(iv) Related Parties of Insurance Contract
(v) Difference between Public and Private Insurance
8. Briefly define following Insurance Authorities or Institutions:
(i) NIAC (ii) SECP (iii) ICPB (iv) FUIB (v) CICMA