Total No. of Questions: 4] SEAT No.

:
Anjuman Khairul Islam’s
POONA COLLEGE OF ART’S, SCIENCE AND COMMERCE
BACHELOR OF VOCATION (B.VOC.)
BANKING, FINANCIAL SERVICES & INSURANCE (BFSI)
603: General Insurance – Marine and Fire
(Semester–VI)
Time : 2 Hours] [Max. Marks : 50]
Instructions to the candidates:
(1) All questions are compulsory.
(2) Figures to the right side indicate full marks.

Q1) Attempt all MCQ Questions from Question 1 to 10. [1×10=10]

1. Insurance works on the principle of
a) Sharing of losses b) Probabilities c) Large numbers d) Randomness
2. The principle of _____________ ensures that an insured does not profit by insuring with multiple
insurers
a) Subrogation b) Contribution c) Co-insurance d) Indemnity
3. _______ may be described as a social device to reduce or eliminate risk of loss to life and property.
a) investment b) saving c) insurance d) loan
4. Select the expanded form of SA as commonly used in life insurance.
a) Sum Assured b) Surrender of Assurance c) Supplementary Assurance d) Stamp Act
5. Select the expanded form of OR as commonly used in life insurance
a) Oral Rehydration b) Once Renewed c) Ordinary Rates d) Ordinary Renewal
6. Select the expanded form of SV as commonly used in life insurance
a) Summary Valuation b) Selected Value c) Surrender Value d) Stamp Value
7. Which of the following terms is dissimilar to the other four in the context of death claims in life
insurance?
a) Early claims b) non-early claims c) Foreclosure d) Claimant’s statement
8. As per structured formula under the Motor Vehicle Act, victims of fatal injuries are paid compensation
on the basis of:
a) Age and sex b) Age and number of dependents
c) Income and size of family d) Age and income
9. ____________principle means that the insured is not entitled to make a profit on his loss.
a) subrogation b) causa Proxima c) indemnity d) uberrima fides
10.The purpose of ………. Are to hold the negligent person responsible for the loss and prevent the
insured from collecting twice for the same loss.
a) subrogation b) causa Proxima c) indemnity d) uberrima fides

Q2) Write short notes on any TWO from the following: [2×5=10]
a) Life Insurance
b) Health Insurance
c) Car Insurance
d) Jewellery Insurance
e) Mobile Insurance

1
Q3) Answer any THREE questions from the following: [3×5=15]
a) Discuss Functions on Insurance.
b) What are the types of Insurance Organizations?
c) What are the objectives and principles of underwriting?
d) Describe role of intermediaries in distribution on Insurance Products.
e) Discuss the process of claim settlement in life Insurance.

Q4) Attempt any THREE of the following: [3×5=15]

a) Discuss pricing objectives in Insurance
b) What is Ombudsman and functions of Lok Adalat?
c) Explain the role of e-commerce in Insurance Industry
d) Role of agents and brokers in Insurance
e) What is Rating in Life Insurance? What is rate making entity?

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