Principles of Insurance Paper 2025 [Dibrugarh University BCOM 2nd SEM FYUGP]

Principles of Insurance Question Paper 2025 (May/June)
Dibrugarh University BCOM 2^nd SEM NEP Syllabus

Paper: MINBNI2 (Principles of Insurance)

Full Marks: 60 (80 for 2023 Batch)

Time: 2 hours (3 hours for 2023 Batch)

1. Answer the following as directed: (1*8 = 8)

(a) What term is used to describe the value of an insurance policy when all premiums have been paid and no further payments are required?

(i) Surrender value

(ii) Paid-up value

(iii) Premium value

(iv) Deductible value

(b) A certain percentage of the sum assured to be paid periodically according to the policy term is known as ———. (Fill in the blank)

(c) ——— principle of insurance states that the insured must have a financial interest in the subject matter of the insurance. (Fill in the blank)

(d) Unit-linked policy offers investment option linked to market performance. (Write True or False)

(e) Whole life policy provides coverage for entire life of the insured. (Write True or False)

(f) What is the primary purpose of the non-life insurance?

(g) The Insurance Regulatory and Development Authority (IRDA) has the power to ———.

(i) issue licences to drive vehicles

(ii) regulate the functioning of Insurance Companies and intermediaries

(iii) set the price of consumer goods

(iv) conduct medical research

(h) The main function of insurance regulators is to determine insurance premium rates. (Write True or False)

2. Write short notes on any four of the following: (3*4 = 12)

(a) Reinsurance

(b) Principle of insurable interest

(c) Life Insurance Organizations in India

(d) Types of non-life insurance products

(e) Insurance ombudsman

3. (a) Discuss the role of insurance in providing social security. (10 Marks)

OR

(b) Discuss the factors influencing the determination of insurance premiums. (10 Marks)

4. (a) Explain the various principles of insurance contract. (10 Marks)

OR

(b) Discuss the various phases of life cycles. (10 Marks)

5. (a) Discuss about the different types of insurance policy. (10 Marks)

OR

(b) What is annuity? Distinguish between annuity and life insurance policy. (3+7=10 Marks)

6. (a) Explain the difference between Life Insurance and Non-Life Insurance Policy. (10 Marks)

OR

(b) Discuss about the various types of Insurance Companies in India and mention their main functions. (7+3=10 Marks)

[Additional 20 marks for 2023 Batch]

7. (a) Briefly explain the historical evolution of insurance industry in India. (10 Marks)

OR

(b) What is whole life insurance? Explain how it differs from other types of life insurance policies. (3+7=10 Marks)

8. (a) Discuss the role of intermediaries in the insurance market. (10 Marks)

OR

(b) What are the significant challenges faced by the healthcare industry? (10 Marks)

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