KNU/2021/BALLBHDSE601

Award: 5 Years B.A. LL.B (Honours)

Discipline: LAW

Course Type: DSE

Course Code: BALLBHDSE601

Course Name: Insurance Laws

Full Marks: 80 Time: 3 Hrs

The figures in the right hand margin indicate full marks.

Candidates are required to give their answers in their own words as far as possible
Illustrate the answers wherever necessary
Q. No Marks
10X1
1) Answer any ten questions (MCQ)

a) Insurance is –
i. Co-operative device
ii. Mutual arrangement
iii. Contractual obligation.
iv. None of the above
b) Insurance Act came into being-
i) 1937
ii) 1938
iii) 1942
iv) 1936
c) Nationalisation of life insurance business was done in-
i) 1954
ii) 1956
iii) 1974
iv) None of the above
d) General Insurance Business Nationalisation Act was passed in-
i) 1972
ii) 1973
iii) 1974
iv) 1980
e) Which one is a liability insurance-
i) Public liability Insurance

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 ii) Marine Insurance
iii) Fire Insurance
iv) None
f) Hazardous substance is defined under which section of PLI Act?
i) 2a
ii) 2b
iii) 2c
iv) 2d
g) Section-7 PLI Act deals with-
i) Handling
ii) Owner
iii) Award
iv) None of the above
h) Economic benefit of insurance includes-
i) Inflation
ii) Malpractices
iii) Peace of mind
iv) All of the above
i) The term wager is derived from a Latin term-
i) Vadiatio
ii) Wage
iii) Bet
iv) None
j) Proxima causa means-
i) Nearness of event
ii) Remoteness
iii) Act of God
iv) None of the above
k) An insurance is a contract of –
i) Wager
ii) Indemnity
iii) Part performance
iv) None of the above
l) Uberrima fides means-
i) Absolute good faith
ii) Duty of disclosure

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 iii) Repose faith
iv) None of the above
m) The contract of making secure is known as-
i) Assurance
ii) Insurance
iii) Ratification
iv) None of the above
n) Price paid for the contract of insurance-
i) Premium
ii) Consideration
iii) Subrogation
iv) None of the above
o) A device which result in demise of subject matter-
i) Loss
ii) Risk
iii) Contingency
iv) None of the above
p) A notice to relinquish the subject matter of insurance is-
i) Jettison
ii) Abandonment
iii) Barratry
iv) None of the above

Answer any ten question-

Very Short type question.
i. Who is an insurer? 2X10
2)
ii. What is subrogation?
iii. Name one annuity policy of LIC.
iv. Is contract of life insurance contingent?
v. Name one duty of insured.
vi. What is Insurable interest?
vii. What is grace period?
viii. What is undesirable risk?
ix. What is Marine Cover Note?
x. Name two marine peril.
xi. What do you mean by stranding?
xii. What is floundering of ship?

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 xiii. What is handling under PLI?
xiv. Subrogation means----
xv. Define the term Cargo.
xvi. What is mixed policy?

Answer any six questions-

Short type question.
3) a) Distinguish between valued and unvalued policy? 6X5
b) How total loss differs from partial loss?
c) What are the implied warranty in Marine insurance?
d) What is the difference between double insurance and re-insurance?
e) Discuss the composition of IRDA.
f) Discuss the rules relating to Insurance advisory Committee.
g) Discuss the duty of the owner to take out insurance policies U/S-4 PLI Act.
h) Name five duty of the insured.
i) What are the effects of non-disclosure?
j) When the notice of abandonment need not be issued?

Answer any two questions.

Essay type question.
4) 2X10

i. Discuss the essential elements of contact of insurance.

ii. What are the power and function of IRDA?
iii. Discuss the provision relating to deviation of voyage.
iv. Narrate the concept of no-fault liability.
v. Discuss different types of life insurance.
vi. How far the social insurance plays a pivotal role in the insurance industry
in India

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