Insurance Question Paper 2018 [Gauhati University BCom Question Papers]

In this post, we have shared the Gauhati University Insurance Question Paper 2018 (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 2018 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.

2018
Insurance

Full Marks: 80
Pass Marks: 24
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) Life Insurance is a contract of indemnity.
(ii) Life Insurance contract is a gambling contract.
(iii) Marine insurance covers the risk in the air.

(b) Fill in the blanks:
(1×4=4)

(i) Surrender value of a life insurance policy is always ______ than the total premium paid.
(ii) Uberrimae fidei indicates ______.
(iii) In India, suicide is not considered as ______.
(iv) In Wagering agreement, no ______ is involved.

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

(i) Assignment of life insurance policy is:
(a) Sale of life insurance policy
(b) To acquire additional life insurance policy
(c) Gift a life insurance policy to a third party
(d) Transfer of life insurance policy to a third party

(ii) Which one of the following items is not the advantage of an endowment policy?
(a) Helpful at old age
(b) Lower amount of premium
(c) Incentive to save
(d) Protection against contingency

(iii) Which one of the following is not a principle of life insurance contract?
(a) Contract of 'Utmost good faith'
(b) Insurable interest
(c) Principle of guarantee
(d) Principle of contingency

2. Write brief notes on the following:
(2×5=10)

(a) Consideration
(b) Subrogation
(c) Wagering agreement
(d) Assignment
(e) Double insurance

3. Write short notes on any four of the following:
(5×4=20)

(a) Burglary insurance
(b) Termination of an insurance agent
(c) Insurance Ombudsman
(d) Personal accident insurance
(e) Importance of insurance to the society
(f) Difference between 'Assignment' and 'Nomination'

4. What do you mean by insurance? Discuss how insurance and economic development are related to each other.
(3+7=10)

Or

Discuss the fundamental principles of insurance.

5. Define "material facts." State the material facts that must be disclosed by a proposer of an insurance contract.
(3+7=10)

Or

What do you mean by 'Revival of lapsed policy'? Mention different mechanisms for the revival of lapsed policy.

6. Describe the different kinds of marine insurance policy and its major contents.
(10)

Or

Describe the mechanism of settlement of claims in respect of a fire insurance policy.

7. Write a note on the objectives and the organizational structure of the Life Insurance Corporation of India.
(10)

Or

Write down the procedure for becoming an insurance agent.

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