GU BCom 4th Sem. Insurance 2025 Model Question Paper [Gauhati University Nep FYUGP Course]

Are you a B.Com 4th Semester student at Gauhati University looking for a well-structured Model Question Paper for Insurance (Major - 6)? If yes, then you’re in the right place!

This blog provides a carefully designed Model Question Paper based on the New Education Policy (NEP) FYUGP syllabus 2025. It covers all essential topics, including Life Insurance, General Insurance, Insurance Legislation, and Insurance Organizations, while maintaining the proper mark distribution and question pattern.

By practicing this Model Paper, you will:

✔ Get familiar with the exam pattern

✔ Understand important topics and question types

✔ Improve your time management skills during the exam

Scroll down to Read The full Model Question Paper and start preparing effectively for your upcoming exams!

Gauhati University BCom 4th Semester Insurance (Major - 6) NEP FYUGP Model Question Paper 2025

GAUHATI UNIVERSITY 
B.Com 4th Semester Examination
Course Name: Insurance (Major - 6)
Total Marks: 100, Time: 3 Hours

Instructions:

• Answer all questions.
• The figures in the margin indicate full marks.

PART A – Objective Questions (1×10=10 Marks)

1. Answer the following as directed: (1×10=10)

i) Insurance is a contract of ____. (Fill in the blank)

ii) Life Insurance is a contract of indemnity. (True/False)

iii) Name any two kinds of insurance.

iv) The principle of __ ensures that the insured cannot profit from insurance. (Fill in the blank)

v) Who regulates the insurance sector in India?

vi) The nomination in a life insurance policy refers to ____. (Fill in the blank)

vii) Define Bancassurance.

viii) Marine insurance covers ____, ____, and ____. (Fill in the blank)

ix) Insurance Ombudsman was introduced to ____. (Fill in the blank)

x) The Insurance Act was passed in the year ____. (Fill in the blank)

PART B – Short Answer Questions (2×5=10 Marks)

2. Write brief answers to any five: (2×5=10)

i) Define Fire Insurance and its need.

ii) Explain the importance of Life Insurance.

iii) What do you understand by Surrender Value?

iv) What are the functions of IRDA?

v) What is Double Insurance?

vi) What is the role of a Third-Party Administrator (TPA)?

vii) Define the term "Premium" in insurance.

PART C – Short Notes (5×4=20 Marks)

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

i) Principles of Insurance

ii) Procedure for Settlement of Fire Insurance Claims

iii) Organizational Structure of LIC

iv) Types of Marine Insurance Policies

v) Insurance Ombudsman and its functions

vi) Essentials for a Successful Insurance Salesman

PART D – Descriptive Questions (10×4=40 Marks)

4. Answer any four of the following questions in detail: (10×4=40)

i) Explain the different types of Life Insurance policies and their features.

ii) Discuss the fundamental principles of Insurance with examples.

iii) Describe the role and functions of General Insurance Corporation (GIC) in India.

iv) Explain the procedure for becoming an Insurance Agent and discuss his rights.

v) What do you mean by Insurance Legislation? Discuss the key Insurance Acts & Amendments in India.

vi) What is Reinsurance? How does it help insurance companies manage risk?

PART E – Case Study / Practical Application (10 Marks)

5. Read the following case and answer the questions below: (10 Marks)

Case:

Mr. Rajiv, a businessman, took a fire insurance policy for his factory. Unfortunately, a short circuit led to a massive fire, causing significant damage. After filing a claim, the insurance company appointed a surveyor to assess the loss. During the investigation, it was found that Rajiv had underinsured his property.

Questions:

a) What steps should Rajiv take to claim his fire insurance? (3 Marks)

b) Explain the role of a surveyor in this situation. (3 Marks)

c) How does the principle of Indemnity apply in this case? (4 Marks)

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Important Note:

This is not the official question paper. Please note that this Model Question Paper has been prepared based on the official NEP FYUGP syllabus. Since no exam has been conducted for this subject under the FYUGP system yet, this paper is designed to help you understand the possible question pattern and guide your preparation.

This is our sincere attempt to assist you. If you find any mistakes or have any confusion, feel free to contact us or comment below for clarification.

Last Word

We hope this Model Question Paper helps you in your preparation. Keep practicing, stay focused, and give your best in the exams. All the best!