PRINCIPLES OF INSURANCE GUESS PAPER 2012

by • 02/12/2012 • GeneralComments (0)540

Note: Attempt any FIVE questions.

 

1. What are the advantages of insurance available to:

(i) Public

(ii) Businessman

(iii) Community

(iv) Government

 

2. Describe the difference between:

(i) Risk management and insurance

(ii) Hedging and arbitrage

(iii) Double insurance and reinsurance

(iv) Hedge motives of insurance and speculative motives of insurance

 

3. Outline the cover, terms and main exclusion/ exception of the following classes of insurance:

(i) Fire insurance

(ii) Insurable interest.

 

4. (a) Define risk management and also describe the prospects of risk management inPakistan.

(b) What do you mean by following risk and also classify by insurability:

(i) Liability

(ii) Personal

(iii) Property

 

5. Describe in details the following basic principles of insurance:

(i) Subrogation

(ii) Contribution

(iii) Proximate cause

(iv) Cover note

(v) Uberrima fides

 

6. (a) Explain the relationship of risk and insurance.

(b) Define risk management and outline the main constitutes of a risk management programmed.

 

7. (a) Briefly define following insurance authorities or institutions:

(i) NIAC (ii) SECP (iii) ICPB (iv) FUB
(v) CICMA (vi) IAC (vii) IBAC (viii) ICP
(ix) FUS (x) CSIO    

 

 

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