B.Com. III (Semester (Old CGPA) Examination, 2018
Advanced Insurance (Paper
Day and Date Friday, 7-12-2018 Max. Marks 70
Time 10.30 a.m. to 1.00 p.m.
N.B. All questions are compulsory.
Figures to the right indicate full marks.
1. Choose the correct alternative 14
Principles of indemnity is not applicable to insurance.
Fire Marine Life All of these
Head office of Life Insurance Corporation of India is at
Delhi Pune Mumbai Kolkata
In India, Act was passed in the year 1938.
Company Income Tax Insurance Wealth Tax
is a social co-operative device.
Agent Investment Insurance Security
First step of taking life insurance policy is
to prepare insurance agent report
payment of insurance premium
to fill proposal form
medical examination
Life Insurance Corporation has divisional offices at
Delhi, Kanpur, Kolkata, Chennai and Mumbai
Pune, Mumbai, Chennai, Bhopal and Hyderabad
Nagpur, Pune, Bhopal and Hyderabad
Bhopal, Delhi, Pune and Mumbai
is accepted as a proof of age by Life Insurance Corporation.
Birth certificate Caste certificate
Mobile card Ration card
As per the principle of the policy holder must give true
and fair information to insurance company.
Utmost good faith Insurable interest
Indemnity Investment
The amount received by from the insured is called premium.
Insurance company Nominee
Insurer Agent
10) days of grace are allowed for half yearly premium of life
insurance policy.
30 60 90 15
11) The insurance policy is the contract between insurance company and
Policy holder Surety Nominee Insurance agent
12) Life insurance contract begins when
Selection of company
Proposal submitted to company
Proposal accepted by company
Insurance premium paid to insurance company
13) On early death of policy holder, the life insurance policy amount is
payable to
Nominee or legal heirs Agent
Policy holder Government
14) The main purpose of protection and investment is in
insurance contract.
Marine Fire General Life
2. Write short notes 14
Nature of insurance.
Principles of protection and investment.
3. Write short answer 14
Explain the settlement of life insurance claim after death of policy holder.
Explain the settlement of life insurance claim on the date of maturity.
4. Explain the role of Life Insurance Corporation of India in social and economical
development. 14
OR
Explain the fundamentals of insurance.
5. Explain the procedure of taking a life insurance policy. 14
OR
Discuss marketing and promotion policy of LIC.