(4th Semester) Insurance & Risk management

Model Institute of Science and Technology, Gazipur.

BBA 2nd Year 4th Semester

BBA-2101 (Insurance & Risk management)

Introduction

1. Define Insurance. Nature of insurance & Functions of insurance.*
2. What is Respondentia & Bottomary Bonds.
3. Briefly describe the historical development of insurance.
4. Briefly describe Historical development of insurance in Bangladesh.
5. Discuss the functions of an insurance company.
6. “Insurance is not gambling” Explain.*
7. “Insurance is a system of spreading the loss of one into the shoulder of many”. Explain. 
8. “Insurance eliminate dependency”-Explain
9. Insurance is able to curtail inflation. So it should be made compulsory-comment.

The scope of insurance

1. Describe the scope of insurance.*
2. Explain the Classification of insurance.

     Branch wise classification.

     Subject matter wise classification.

3. What is consequential loss insurance & Material loss insurance.*
4. What is war risk insurance?

Insurance Contract

1.  What are the requirements of a valid Insurance contract?
2. Distinguish between Subject Matter of Insurance & Subject Matter of Insurance Contract.
3. Describe the principle of utmost good faith & principle of indemnity with their essentials & uses.
4. What policies usually come under insurance of interest.*
5. Explain the six principles of Insurance.*
6. What are the Limitations on the scope of Insurance
7. Distinguish between Representations & Warranties.*
8. When insurable interest must exist.*
9. What are the essentials of Insurable interest?
10. “Insurance is a contract of indemnity”-Explain
11. Describe the Methods of providing Indemnity.
12. How subrogation is a corollary to the principle of Indemnity.*
13. Discuss the different rules relating to proximate cause.

14. What are the facts which are required to be disclosed in case of utmost good faith?
15. Insurance is not to prevent risk, but to indemnify the losses arising from a certain risk. Explain

Reinsurance

1. What is Reinsurance? Explain different Types of Reinsurance.*
2. Review the legal reconsiderations of reinsurance contract.
3. Distinguish ‘Excess of loss’ & ‘Excess of loss Ratio’.
4. Explain the Importance of Reinsurance.*
5. What are the reasons for Reinsurance?
6. Explain different types of Treaties.*
7. What is an Exgratia payment?

Life Insurance

1. Explain different kinds of accident policy.*
2. Explain different liability policies.
3. “Husband has insurable interest in the life of his wife”-Expalin
4. Briefly explain different types of personal accident & sickness insurance.*
5. What is Term/Temporary assurance, whole life Assurance, pure Endowment Assurance & Ordinary Endowment Assurance, Decreasing Term Assurance.*
6. Distinguish between Term/Temporary assurance & whole life Assurance.
7. Define premium. Write down the steps for Calculating Net Single Premium.
8. What are the factors affecting premium rate?
9. Distinguish between level premium annuities & single premium annuities.
10. Calculate the level premium taking imaginary number considering 3 years of insurance.
11. Define Annuity. Types of Annuity.*
12.  How Annuity contract differs from life insurance contract.*
13. What is Bonus? What are the different types of Bonus?
14. What is surrender value? What are the various forms of payment of surrender value.*
15. Define surrender value. Write down the features of surrender value.*
16. Discuss the methods of calculating surrender value.
17. Life policies are freely assignable in case of life insurance-discuss
18. “Proximate cause is not very essential in case of life insurance contract”. Explain
19. Distinguish between life insurance & other types of insurance.
20. Discuss the procedures of settlement of life insurance claims.
21. What is mortality table? Draw an imaginary table taking 5 years into consideration.
22. Write down the features/importance mortality table.
23. Write short notes: Metlife ALICO, POSTAL LIFE INSURANCE.(2011)

Fire Insurance

1. Define Fire insurance. Explain various types of fire insurance policy.
2. What do you mean by Moral Hazard & Physical Hazard in Fire Insurance policy.
3. Discuss the procedures of settlement of claim under Fire Insurance policy.
4. What are the important conditions of fire policies?
5. What are the uses of fire insurance?
6. What are the principles of rate fixation in fire insurance.
7. Explain- Valued policies, Reinstatement policies & Adjustable policies.
8. Discuss contribution & average clause in fire insurance.

Marine Insurance

1. What are the subject matter of marine insurance?
2. What are the principles/features/Elements of Marine Insurance Policy?
3. Discuss the procedures of taking Marine Insurance Policy.*
4. Explain different types of marine insurance policies.*
5. What are the differences between Total loss & Partial loss.*
6. Describe the documents that are generally required for the payments of claims under Marine Insurance.
7. What is Marine perils. State different types of Marine Insurance losses.*
8. Distinguish between Actual Total Loss & Constructive Total Loss.*
9. How general average loss is different from particular average loss?
10. Briefly explain different types of hazards.
11. What are the important warranties in marine insurance?
12. What are the various clauses of marine insurance policies?

Reserve

1. What is Reserve? Explain different types of Reserves & Uses.*
2. Briefly explain the two methods of calculating Reserve.

Insurance pricing

1. Elucidate Insurance pricing & discuss the objectives of Insurance pricing.
2. Name the methods of Insurance pricing.
3. Describe the “judgmental Method” & “Numerical rating system” of evaluating risk.

Risk Management

1. What is Risk Management? Discuss Importance/objectives of Risk Management.*
2. What are the different Types of Risk? Distinguish between Risk & Uncertainty.*
3. What are the Methods that an insurance company uses to handle risk.*
4. Describe the steps involve in the Risk Management process.
5. Explain different types of Insurable Risk.
6. ‘Pure risks are always Insurable’- Explain.
7. Assess the Elements of Insurable Risk.*
8. Why is insurance termed as a co-operative device & a form of Risk management.*
9. Classify insurance from risk point of view.

Insurance Business in Bangladesh

1.      Explain the necessity of Insurance for economic Development of a country like Bangladesh.

2.      Discuss the constraints of Insurance Business in Bangladesh & Narrate the ways of overcoming the problems.

3.      Describe the problems of insurance business in BD.

4.      What are the importances of Insurance in the Development of Modern trade?

5.      Discuss the insurance business model.