B.Com (Part (CBCS) (Sem. Examination, 2018
insurance
Life Insurance I
Day and Date Saturday, 8-12-2018 Max. Marks :70
Time 2.30 p.m. to 5.00 p.m.
N.B. All questions are compulsory.
Figures to the right indicate full marks.
1. Choose correct alternative and rewrite the answer 14
The tool which shares loss of few with large number of people is known
as
Co-operation Business Corporate Insurance
Insurance concept was firstly used by businessman in the
world.
Indian Chinese Roman Egyptian
Principle of indemnity will not apply for insurance.
Fire Marine Life Burglary
Principle of utmost good faith applied to
Insurer Insured
Insurance agent Both insurer and insured
Two or more than two people insured in a single insurance policy is known
as
Group insurance policy Burglary policy
Endowment policy Common insurance
After the privatization of life insurance sector in India, institution
is formed by the government to regulate insurance sector in India.
Insurance Regulatory and Development Authority
General Insurance Corporation
Life Insurance Corporation of India
Reserve Bank of India
Insurable interest must present in at the time of taking
insurance policy.
Marine Insurance Life Insurance
Credit Insurance Cattle Insurance
Pradhan Mantri Suraksha Bima Yojana is the example of
insurance.
Whole life Fidelity guarantee
Social security Fire insurance
After completion of policy term, insured should fill to get
the life insurance amount.
Medical form Proposal form
Assignment form Discharge form
10) The amount received by insurance agent for his work is known as

Surrender value Commission
Paid-up value Claim amount
11) is the guidelines for insurance agents work.
Insurance contract Discharge form
Training Code of conduct
12) is the amount which is paid by insurer to the insured after
discontinuation of the policy.
Sum assured Paid up value
Surrender value Discounted value
13) is the potential negative impact on human life that may arise
from some present process or some future events.
Risk Mortality rate
Surrender value Insurance
14) Add-ons or additional benefits which are attached with the current life
insurance policy is known as
Paid-up value Riders Commission Risk cover
2. Write short notes on 14
Principle of insurable interest.
Importance of life insurance.
3. Answer the questions in brief 14
What is the procedure of becoming insurance agent
What factors affects on selection of risk
4. Answer any one 14
What is meant by insurance Explain the various principles of insurance in
detail.
OR
Explain the various types of life insurance in detail.
5. Answer any one 14
Explain the various factors which determines life insurance premium in detail.
OR
Explain in detail procedure of settlement of claim in life insurance in detail.