Insurance and Risk Management Question Paper 2022
Gauhati University BCOM 2nd SEM Question Papers
COMMERCE (Honours Generic)
Answer the Questions from any one Option.
OPTION-B (Insurance and Risk Management)
Paper: COM-HG-2026
Full Marks: 80
Time: Three hours
The figures in the margin indicate full marks for the questions.
Answer either in English or in Assamese.
In this post you wil get Insurance and Risk Management Question Paper 2022 for Gauhati University BCOM 2nd SEM Question Papers.
1. Answer any ten questions of the following as directed: Â Â Â Â Â Â Â 1 x 10=10
(a) In which year Life Insurance Corporation of India came into effect?
(b) State whether the following statement is True or False: Insurance risk can be predicted.
(c) Loss control involves identifying.
(1) Risk.
(2) Control.
(3) Profit.
(4) Market. (Choose the correct alternative)
(d) Write one example of Regulatory Framework of Insurance.
(e) State whether the following statement is True or False: Workers strike is an external risk.
(f) In which of the following years, Bombay Mutual Life Insurance Society started its business in India?
(1) 1870.
(2) 1871.
(3) 1872.
(4) 1873. (Choose the correct alternative)
(g) In which year was Insurance Act passed?
(h) State whether the following statement is True or False: Hull insurance is not concerned with the insurance of ships.
(i) A serious and immediate danger is called:
(1) Hazard.
(2) Peril.
(3) Loss.
(4) Risk. (Choose the correct alternative)
(j) Write full form of IRDA.
(k) State whether the following statements is True or False: A life insurance policy is issued for five years.
(l) In which year the Malhotra Committee was formed by Government of India to study whether the life insurance sector should be opened for private player?
(1) 1991.
(2) 1992.
(3) 1993.
(4) 1999. (Choose the correct alternative)
(m) State whether the following statement is True or False: Insurance help businessman to concentrate their attention on business.
(n) State whether the following statement is True or False: Insurance like fire and marine insurance are contract of indemnity.
(o) State whether the following statement is True or False: Globalization has also caused immigration numbers to rise.
2. Answer any five questions of the following in about 50 words each: Â Â Â Â 2 x 5=10
(a) Define risk.
(b) State the meaning of Hedging.
(c) What is meant by health insurance?
(d) Give the meaning of negligence.
(e) Define Actuaries.
(f) What is surrender value of policies?
(g) Write two features of IRDA.
3. Answer any four questions of the following in about 150 words: Â Â Â Â Â Â 5 x 4=20
(a) Briefly describe the different types of risk.
(b) Write the difference between life insurance and fire insurance.
(c) Mention five features of marine insurance.
(d) State any five functions of Actuaries in life insurance.
(e) Discuss briefly importance of risk management.
(f) Highlight any five points of IRDA Regulation, 2019.
(g) Write any five differences between re-insurance and co-insurance.
(h) State five objectives of insurance.
4. Answer any four of the following questions in about 600 words each: Â Â Â Â Â 10 x 4=40
(a) Explain the different sources of risk in business.
(b) Describe various needs of insurance.
(c) Discuss certain impact of globalisation in insurance sector.
(d) Define insurance. Discuss different types of insurance.
(e) Critically examine various factors affecting risk. From where these information of risk is obtained? Â Â Â Â 8+2=10
(f) Discuss the power and functions of IRDA.
(g) Elaborate various steps of risk management.
(h) Describe different principles of insurance contract.
(i) Write a note on Regulatory Framework of Insurance.
(j) What is risk? How risk is determined in life insurance? Discuss. Â Â Â Â Â Â Â 2+8=10
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