Insurance Question Paper 2017 [Gauhati University BCom Question Papers]

In this post, we have shared the Gauhati University Insurance Question Paper 2017 (Non-CBCS Pattern). This question paper is highly beneficial for FYUGP NEP 4th Semester students of Finance Major. It is particularly relevant for students pursuing Finance Major, as the syllabus for both Non-CBCS and NEP patterns shares significant similarities.

We strongly recommend studying this Gauhati University FYUGP NEP B.Com 4th Semester Insurance question paper from 2017 Finance Major thoroughly to enhance your preparation for the FYUGP NEP 4th Semester Honours Course. This previous year’s CBCS question paper will serve as a valuable resource for mastering the core topics under the FYUGP NEP 4th-semester syllabus.

2017
Insurance

Full Marks: 80
Time: Three hours

The figures in the margin indicate full marks for the questions.
Answer either in English or in Assamese.

1. (a) State whether the following statements are true or false:
(1×3=3)

(i) Every insurance contract must fulfill the principle of 'insurable interest.'
(ii) There are only two types of general insurance: fire and marine.
(iii) Contract of indemnity is applicable for life insurance.

(b) Fill in the blanks:
(1×4=4)

(i) Material facts should be disclosed during the ______ stage of the policy.
(ii) Endowment assurances are made for ______ period.
(iii) When the right of a life insurance policy is endorsed to another person, then it is called ______.

(c) Select the correct answer:
(1×3=3)

(i) Which of the following is not a feature of life insurance?
(A) Offer and acceptance
(B) Maturity value
(C) Insurable interest
(D) Principle of indemnity
(E) Surrender value

(ii) Who is termed as national re-insurer?
(A) The National Insurance Co. Ltd.
(B) The Oriental Insurance Co. Ltd.
(C) The General Insurance Corporation of India
(D) United India Insurance Co. Ltd.

(iii) Fire insurance policy period is usually for:
(A) One year
(B) Two years
(C) Three years
(D) Five years

2. Write brief notes on the following in about 50 words each:
(2×5=10)

(a) Safety and security elements in insurance
(b) Indemnification
(c) Wagering agreement
(d) Contract of utmost good faith
(e) Endowment assurance

3. Answer any four of the following in about 150 words each:
(5×4=20)

(a) Write down the importance of insurance to society.
(b) Write a short note on Insurable interest.
(c) What is meant by revival of lapse policy?
(d) Write a short note on double insurance.
(e) What is meant by time policy in insurance?
(f) Give a brief description of personal accident insurance.
(g) When can an insurance agent be terminated?

4. Discuss the origin and development of insurance in India.
(10)

Or

Write down the uses of insurance to commerce and industry.

5. Write down the procedure for taking a life insurance policy.
(10)

Or

 Mention the procedure for the settlement of a life insurance claim.

6. Discuss the procedure for taking out Motor Vehicle Insurance.
(10)

Or
Discuss the procedure for settling Marine Insurance claims.

7. State the organizational pattern of GIC. Name three private sector insurance companies operating in Assam.
(7+3=10)

Or

 Discuss the functions of an insurance broker. How is an insurance broker different from an insurance agent?  (6+4=10)

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