LL.M (Semester III) (CBCS) Examination Nov/Dec-2018
INSURANCE LAW
Time: 2½ Hours Max. Marks: 70
Instructions: Answer any five questions.
Question No. 1 is Compulsory.
Marks indicated right side of each question.
Q.1 Multiple choice questions: 14
Which one of the following does not belong to the main products of life
Insurance?
Endowment Personal accident Insurance
Term Whole life
When did Insurance begin in Babylon?
1750 BC 1907 BC
1971 BC 2000 BC
Which one of the following does not belong to the major general Insurance
private sector Companies in India?
Bajaj Allianz General Insurance
Reliance General Insurance
Royal Sundaram Alliance Insurance
The Oriental Insurance Company
When was the Oriental Life Insurance Company established?
1818 1834
1907 1938
When was Life Insurance sector nationalized?
1834 1907
1938 1956
When was Triton Insurance Company Ltd established? Z
1834 1850
1907 1938
When was the Export Credit Guarantee Corporation of India established?
1938 1957
1973 1871
When was General Insurance business nationalized?
1938 1971
1973 1993
When was the General Insurance Corporation of India incorporated?
1971 1972
1973 1993
10) When was the Insurance Regulatory and Development Authority constituted?
1938 1971
1993 1999
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11) As per structured formula under the Motor Vehicle Act, Victims of fatal injuries
are paid Compensation on the basis of
Age and Sex Age and number of dependence
Income and size of family Age and Income
12) As per the Insurance Act, every Insurer has t5o prepare at the end of
financial year
Balance Sheet
Profit and Loss Account
Revenue Account for each class of Insurance business
All of the above
13) The Third party Administrators role mainly involves
Canvassing business for the insurer
Issuing documents on behalf of the insurer
Arranging for re-insurance
Checking and paying insurance claim
14) Which clause specifies the perils insured in a scheduled form of policy?
Preamble Clause Recital Clause
Operative Clause Consideration Clause
Q.2 Answer any four of following. 16
Amounts Recoverable under life Policy.
Marine Insurance
Settlement of Claims and Subrogation
Policies covering Accidental loss, Damage to Property
Contributory Negligence
Claims Tribunal
Q.3 Answer any two of the following. 12
Group Life Insurance
Liability Insurance Against Third Party
Live Stock Policy
The Emergency Risk (Goods) Insurance
Q.4 Answer any one of the following. 14
The Personal Injuries (Compensation Insurance) Act 1963.
The Emergency Risk (Factories) Insurance.
Q.5 Answer the following question. 14
Explain the History and Development of Insurance Law.