MMPF-011 Management of Insurance Services Solved Question Paper December 2023

MMPF-011 Management of Insurance Services Solved Question Paper December 2023

Management of Insurance Services
Course Code: MMPF-011

1. Explain briefly the concept of ‘Insurance’.
Discuss the essential requirements for a life
assurance contract to be legally valid.
2. What do you mean by Underwriting ? Discuss
the factors influencing the assessment of risks

3. Explain the term Life Insurance and the need
to have life insurance products. Discuss the
different types of life insurance products.
4. Define ‘Micro Insurance’. Explain the concept of
micro insurance. How is conventional insurance
different from micro insurance ?
5. What are the distinctive features of Fire
Insurance ? Discuss the basic principles of
insurance and their applicability to fire
insurance.
6. Explain the Pradhan Mantri Fasal Bima
Yojana (PMFBY) and the benefits available
under this scheme. Describe the Claim
Settlement Process for the PMFBY scheme.
7. Define ‘Solvency’ and ‘Solvency Margin’. How
do you calculate solvency margin of an
insurance company ? Discuss the factors
affecting solvency margin.

8. Write short notes on any four of the following :
(a) Group Gratuity Scheme
(b) Third Party Administrator (TPA)
(c) Pay as you drive
(d) Motor Accident Claim Tribunal (MACT)
(e) Corporate Social Responsibility (CSR)