OU B.Com 2021 Important Question Bank || Osmania University (Important Questions)
Subject Title: Regulation of Insurance Business
Year: III Semester: VI
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Unit - I: Insurance Legislation in India
- Define Life Insurance. Explain the evolution of Life Insurance.
- Write about the Insurance Business Act, 1972.
- What is the role of IRDA in Insurance business?
- Write about IRDA and Discuss the objectives, duties and powers of IRDA?
- Write a short note on TPAs, Surveyors, Web Aggregators, Money laundering and KYC.
- Discuss in detail about Micro-Insurance.
- Explain in detail the Growth of life insurance in India.
- Write about insurance legislation of India.
- Write in Detail about the procedure of granting, refusal and cancellation of IRDA license.
- What are the various insurance Intermediaries and what are their operations?
- What do you mean by (ULIPs), Advantages and disadvantages of ULIPs, What are the types of ULIPs? Discuss briefly.
- What is Premium? Different types of Premium?
- What is Premium Receipt? What are its types?
- What is Health insurance? Explain its Importance and various health insurance policies in India.
- What are health plus combi products? State the guidelines of IRDA in relation to it.
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Unit - II
- What do you mean by repudiation or breach of contract? What are its types?
- Write in detail about free look period.
- What are the matters stated in the regulations 2017 of IRDA, related to general, life and health insurance policies
- What is claim settlement? Discuss in detail procedure for claim settlement for life insurance policies.
- Explain in detail the various documents used in life insurance policy.
- What is IAIS? How is the Insurance Market regulated in countries such as Canada, EU and China.
- Define Assignment. What are the conditions for valid assignment? State the reasons for assignment. Different types and process of assignment.
- What Is Insurance Fraud? Discuss the various types of Insurance frauds.
- Explain in detail the Grievance Redressal mechanism available for insurance policies.
- Explain in detail the various documents used in life insurance policy and General insurance policy.
- What do you mean by insurance Ombudsman? Briefly Discuss about the rules related to insurance Ombudsman
- Write about solvency margin and investments.
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