MANARAT INTERNATIONAL
UNIVERSITY (MIU)
Department of Business Administration (DBA)
Program: BBA. Semester: Summer-2010. Section: M1, M2 and F
MID-TERM
EXAMINATION
Course Title- MGT 412: Insurance
and Risk Management
Time: 01.30
hrs. Full Marks:
[(5*3.0) x2] =30
(Questions are of equal value. Give
Correct Answer of All
questions.
Answer Chronologically. Wrong Answer may lead to the Negative Marking. Please Return
the Question Paper with the Answer Script)
01. (a) “Insurance is defined as a cooperative device to spread the
loss caused by a particular risk”. Why?
(b) Mention the common characteristics found in different types of insurance. Can
insurance be considered as gambling?
Why or why not?
(c) “If we analyze the gradual development in the sphere of
insurance, we shall come across certain common features associated with such
development.” Justify
this statement.
(d) What does public property means according to the Section 23 of the Insurance (Amendment) Ordinance, 1984?
(e) Write short notes on Bangladesh Insurance Academy.
02. (a) Compare the insurance contract with
the contract
of the sale of goods in
light of the principles of Uberrima
Fides.
(b) Can anybody insure anything that he
sees around? Who can insure and what?
(c)
The Principle
of Indemnity is not followed strictly as the usual appreciation and
depreciation is not taken into account. Justify this statement.
(d) When the Principle of Contribution operates? With regard to playability or otherwise of a claim, certain
rules of proximate cause should be noted carefully. Explain the statement.
(e) Briefly summarise the Principle of Subrogation.
BEST OF LUCK
#
IRM: MGT-412/Mid-Term/Summer-2010/DBA/MIU
#
MANARAT INTERNATIONAL
UNIVERSITY (MIU)
Department of Business Administration (DBA)
Program: BBA. Semester: Summer-2010. Section: M1, M2 and F
FINAL
EXAMINATION
Course Title- MGT 412: Insurance
and Risk Management
Time: 02.30
hrs.
Full Marks: [4*12.5] =50
(Questions are of equal value. Give
Correct Answer of All
questions. Answer Chronologically. Wrong Answer may lead to the Negative Marking. Please Return
the Question Paper with the Answer Script)
01. (a) What do you know about life
insurance contract? In life insurance, there are certain cases in
which insurable interest has to be proved.
Summarise those cases.
(b)
Besides a number of essential features of life insurance contract, the policies
also have some additional features. What
are those?
(c)
Which type of life insurance policies are for a short
period of years ranging from three months to seven years? Who will
be benefited from such policies? Why?
(d)
“The population statistics is not very much useful to
insurers. It was applied only when there was no insurance experience in this
field.” Considering this statement, state the criticism of
population statistics-one of the sources of mortality information.
(e)
What is annuity and annuity
due? Distinguish between annuity
contract and life
insurance policy.
02. (a) What are the subject-matters which
are insured by marine insurance contract? What do you know about PPI
policy?
(b)
The marine insurance policies can be classified into several types. What are
those policies? Explain the 5th, and 7th of those
policies.
(c)
Circumstances may happen when the proposed shipment of goods may not take place
or only a reduced quantity may be shipped. Under what circumstances the premium
is returnable? State the second one.
(d)
Do you have any idea about marine losses? When
the underwriter shall be liable for damages caused by the insured
marine perils?
(e)
Briefly summarise the subject-matters of the “notice
of abandonment”, given to the insurer to claim the loss as constructive
total loss of marine insurance.
03. (a) “Fire
insurance have performed numerous important services to reduce the fire waste
with the help of public institutions which are engaged in fire fighting
activities”. Justify this statement.
(b)
Briefly explain the principles of insurable
interest in fire insurance contract.
(c)
“The fire insurance contract may be avoided if there is any
alteration after the commencement of such type of insurance.” Considering
this statement discuss different types of
alteration.
(d)
The rate fixation in fire insurance is not as scientific as
in life insurance. The actual process of rating consists of three steps. What are
those steps? Explain the 1st step.
(e)
What do you know about “Salvage Corps”?
04. Write short notes on the
following topics (use examples, imaginary data and calculations wherever
necessary):
(a) NSP
method.
(b) Seaworthiness
of ship.
(c) Fraud
and misrepresentation.
(d) Exceptions
to the rule “no consideration, no contract”
(e) Principle
of contribution of insurance.
#
IRM: MGT-412/Final/Summer-2010//DBA/MIU
#
Make-Up Exam
MANARAT INTERNATIONAL
UNIVERSITY (MIU)
Department of Business Administration (DBA)
Program: BBA. Semester: Summer-2010. Section: M1, M2 and F
FINAL
EXAMINATION
Course Title- MGT 412: Insurance
and Risk Management
Time: 02.30
hrs. Full
Marks: [4*12.5] =50
(Questions are of equal value. Give
Correct Answer of All
questions. Answer Chronologically. Wrong Answer may lead to the Negative Marking. Please Return
the Question Paper with the Answer Script)
01. (a) “Insurance is defined as a
cooperative device to spread the loss caused by a particular risk”. Why?
(b)
Mention the common characteristics found in different types of insurance. Can
insurance be considered as gambling? Why or why not?
(c)
“If
we analyze the gradual development in the sphere of insurance, we shall come
across certain common features associated with such development.” Justify this statement.
(d)
What does public
property means
according to the Section 23 of the Insurance (Amendment) Ordinance, 1984?
(e)
Write short notes on Bangladesh Insurance Academy.
02. (a) What do you know about life
insurance contract? In
life insurance, there are certain cases in which insurable
interest has to be proved. Summarise those cases.
(b)
Besides a number of essential features of life insurance contract, the policies
also have some additional features. What are those?
(c)
Which type of life insurance policies are for a short
period of years ranging from three months to seven years? Who will be benefited from such
policies? Why?
(d)
Do you have any idea about marine losses? When the underwriter shall be liable for damages
caused by the insured marine perils?
(e)
Briefly summarise the subject-matters of the “notice of abandonment”, given to the insurer to claim
the loss as constructive total loss of marine insurance.
03. (a) What are the subject-matters which are insured by marine
insurance contract? What do you know about PPI policy?
(b)
The marine insurance policies can be classified into several types. What are
those policies? Explain the 5th, and 7th of those
policies.
(c)
Circumstances may happen when the proposed shipment of goods may not take place
or only a reduced quantity may be shipped. Under what circumstances the premium is
returnable? State
the second one.
(d)
The
rate fixation in fire insurance is not as scientific as in life insurance. The
actual process of rating consists of three steps. What are those steps? Explain
the 1st step.
(e)
What do you know about “Salvage Corps”?
04. (a) Compare the insurance contract with the contract of
the sale of goods in
light of the principles of Uberrima Fides.
(b)
Can anybody insure anything that he sees around? Who can insure and what?
(c) The Principle
of Indemnity is not followed strictly as the usual appreciation and
depreciation is not taken into account. Justify this statement.
(d)
When the Principle
of Contribution
operates? With
regard to playability or otherwise of a claim, certain rules of proximate cause
should be noted carefully. Explain the statement.
(e)
Briefly summarise the Principle of Subrogation.
#
IRM: MGT-412/Final/Summer-2010//DBA/MIU
#
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