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DRIVE- Winter 2014
PROGRAM/SEMESTER - MBADS – (SEM
4/SEM 6) / MBAN2 / MBAFLEX – (SEM 4) / PGDFMN – (SEM 2)
SUBJECT CODE & NAME- MF0018
& INSURANCE AND RISK MANAGEMENT
Q1. What do you understand by the
term risk and uncertainty? Explain different types of risk facing business and
individuals. (Introduction of risk and uncertainty, Explanation of different
types of risk) 4, 6
Answer:
Introduction of risk
and uncertainty
RISK:
Risk is defined in many different ways. Risk theorists, economists, statisticians,
behavioral scientists each have
Q2. Identify the role of insurance
in managing risk financing. Explain the importance of insurance transaction.
Discuss in different perspectives of insured and insurer. (Role of insurance in
managing risk financing, Introduction of insurance transaction, Explanation of
different perspectives of insured and insurer) 2, 4, 4
Answer:
Insurance
as a Prime Risk Management Tool
In
general, risk management deals with risks by designing the procedures and
implementing the methods that lessens the loss occurrence or the financial
impacts.
Insurance
Q3. Explain the reasons that have
been responsible for the privatization of the insurance industry in the
country. Identify the problems and prospects of public insurance enterprises.
(Complete information on the privatization of the insurance industry, Problems
and prospects of public insurance enterprises. ) 5, 5
Answer:
Privatization of the
insurance industry:
Insurance
companies are mainly divided into public and private sector companies. The
government to help manage the risks faced by the people of India formed public
sector insurance companies. Public insurance is also known as social insurance
as it helps citizens below the poverty line or people who cannot face their
basic risks by
Q4. Explain the creation and
application of insurable interest. Give the differences between wagering and
insurance. (Creation of insurable interest, Application of insurable interest,
Differences between wagering and insurance) 2, 3, 5
Answer:
Creation of insurable
interest:
True,
valid, determinable, and direct economic stake of an insurance policy holder
(or of the beneficiary of the policy) in the continued existence or safety of
the insured property or person. Often stated as "an interest in the
outcome of a contingency
Q5. Give the important activities
of life insurance company. Describe the important historical milestones in the
development of the life insurance sector in India. (Important activities of
life insurance company, The important historical milestones in the development
of the life insurance sector in India) 4, 6
Answer:
Important activities of
life insurance company
Insurance
pricing has to balance the risks and returns of the insurance company. It needs
to take into account the role of the market in determining the price of the
insurance products. The pricing strategy must ensure that the premiums received
Q6.
Give short notes on :
Pricing objectives.
Pricing elements.
Rate computation.
Answer:
Pricing objectives
The
insurance pricing has the following general objectives:
1) The
rating system must create adequate premium income for the insurance corporation
to be able to settle its claims and expenses; to provide a realistic return
rate to the sponsors of funds and to finance continuing growth and
Get fully solved assignment. Buy online from website
online store
or
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sub code
we will revert you within 2-3 hour or immediate
Charges rs
125/subject and rs 700/semester only.
if urgent then call us
on 08791490301, 08273413412
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