Principles of Insurance – Question Bank

Unit-I

1. What is risk? Explain about the various types of risks.

2. What is insurance? Explain about nature and scope of insurance.
3. Discuss the classification of insurance.
4. What are the ways to manage risk by individuals and insurers? Explain
5. What is the concept of reinsurance? Explain.
6. What is the role of insurance in economic development? Explain.
7. What are the constituents of insurance market? Explain.
8. Write short note on the following.
A) Life insurance B) Non-Life insurance

Unit-II

1. What are the various needs of customers? And explain the importance of customers in
insurance.
2. How to understand customer behavior while taking and claiming insurance policy.
3. Briefly explain about following life insurance products:
i) Term plans
ii) Pure endowment plan
iii) Combination plan
iv) Group policies
4. Briefly explain about following general insurance products:
i) Fire insurance products
ii) Marine insurance products
iii) Accidents insurance product
iv) Miscellaneous risk insurance products
5. Briefly explain the following principles of insurance
i) Principle of insurable interest
ii) Principle of indemnity
iii) Principle of subrogation
iv) Principle of contribution
v) Principle of relevant information disclosure
vi) Principle of utmost good faith