Insurance & Risk Management BBA Second year Fourth Semester examination 2007

BBA second year fourth semester examination, 2007

INSURANCE & RISK MANAGEMENT

Subject code: 2201

Examination code: 604

Time – 3 hours

Full marks- 70

[N.B. - the figures in the right margin indicate full marks. Answer any five questions from Part A and three questions from part B]

Part – A  - Short Question

Marks- 5*5=25

1.      Insurance is not to prevent risk, but to identify the losses

2.      (a)What is insurance policy?

(b) Why insurance policy important?

3.      Briefly explain different types of insurance.

4.      ?

5.      (a)What is risk?

           (b)Mention different types of risk.

6.      What are the various forms of payment of surrender values?

7.      (a)What is assurance?

(b) Insurance is a contract of indemnity-explain.

PART-B- Broad Questions

Marks- 15*3=45

8. Discuss the various kinds of insurance and examine the nature of risks protected by each kind of insurance.

9. (a)Mention the different types of hazard.

   (b) Discuss the types of marine insurance losses.

10. (a) What are the differences between peril and hazards?

   (b) Distinguish between total loss and partial loss.

11. (a) What are the procedures of adjusting marine insurance losses?

     (b) What do you mean by particular average loss & constructive loss?

12. (a) What is re-insurance?

   (b) Define life insurance, fire insurance, marine insurance and liability and give example.

13. Discuss the procedure of settlement of fire insurance claims.