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

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

Management of Insurance Services
Course Code: MMPF-011

1. What do you mean by ‘Insurance’ and
‘Reinsurance’ ? Describe the basic functions of
Reinsurance.
2. Describe the establishment, composition and
objectives of Insurance Regulatory and
Development Authority (IRDA). Discuss the
duties, powers and functions of IRDAI.
3. Define ‘Group Insurance’. Discuss the
characteristics of a Group for the purpose of
Group Insurance. Explain the differences
between Group Insurance and Individual
Insurance.
[ 2 ]
4. What is Health Insurance ? Describe the major
types of Health Insurance Products.
5. Explain the term ‘Own Damage (OD)’. Discuss
the different types of OD Claims and the
procedures followed in settlement of these
claims.
6. Explain the applicability of the principles of
insurance to Personal Accident (PA). What are
the types of disablement covered and the
exclusions under PA Insurance ?
7. Discuss the concept and need of Corporate
Governance for Insurance Sector. What are the
key principles of Corporate Governance ?
8. Write short notes on any four of the following :
(a) Insurance Repositories (IRs)
(b) Mortality Rate
(c) General Exclusions of Fire Insurance
(d) Livestock Insurance
(e) Whistle Blower Policy