Fundamentals of Insurance — DU B. Voc – Banking Operations Previous Year Question Papers

Name ofPaper: Fundamental of Insurance o Each question is of 15 marks. a) Define insurance. Explain the characteristics and benefits of Insurance b) What is the societal perspective of business? 2 a) Elucidate the need of insurance in India? b) What are the various functions of insurance? How insurance sector oflndia is globalizing? 7 What are the benefits ofglobalizing insurance sector oflndia? 8 b) What is indemnity? What are the ways in which the doctrine of indemnity 7 is enforced in property insurance contract? Explain the distinguishing features of insurance contracts? 8 What do you understand from proximate clause? Give its applications. 7 What are the requisites of principle of contribution? Give relevant 8 6 a) Write short notes on Gambling vs Insurance b) How do you classifo health insurance policy? Explain 7 a) What is risk? What is the relationship of risk and uncertainty? b) What are the different fypes of source ofrisks? 8 a) What are the main objectives of IRDA? b) Describe the composition of IRDA, tenure of office and qualifications of members?