Roll No………………… | |||
Time allowed : 3 hours | Maximum marks : 100 | ||
Total number of questions : 8 | Total number of printed pages : 4 | ||
Part—A | |||
(Answer Question No.1 which is compulsory and any two of the rest from this part.) |
1. | Attempt any four of the following:
|
2/2005/BILP | P.T.O |
( 2 )
336 |
|
||||||||||||||
(5 marks each) | ||||||||||||||
2. | (a) | "Financial sector reforms have changed the face of public sector banks in India." Do you agree? Explain what should be the mission for banking sector in India. |
||||||||||||
(8 marks) | ||||||||||||||
(b) | State briefly the procedure followed by the National Housing Bank (NHB) for securitisation of housing loans granted by housing finance companies. |
|||||||||||||
(7 marks) | ||||||||||||||
3. | (a) | What precautions a bank should take before opening a letter of credit (L/C) limit for the use of importers? |
||||||||||||
(5 marks) | ||||||||||||||
(b) | Write notes on any two of the following:
(i) Treasury management' in banks (ii) 'Approved' and 'non-approved', securities for banks (iii) 'Credit Information Bureau of India Ltd.' (CIBIL). |
|||||||||||||
(5 marks each) | ||||||||||||||
4. | Attempt any five of the following :
|
|||||||||||||
(3 marks each) |
2/2005/BILP | Contind... |
( 3 )
336 |
Part—B
(Answer Question No.5 which is compulsory and any two of the rest from this part.) |
||||
5. | Attempt any four of the following: |
|||
(i) | Manoj applied for a life insurance policy. He stated in the application that he had never smoked cigarettes. In fact, he had been smoking cigarettes for the last 13 years and during the months before he applied for insurance, he was smoking approximately 10 cigarettes daily. About 10 months later, Manoj died of reasons unrelated to smoking. The beneficiary filed a claim for the death proceeds. The insurer discovered that Manoj smoked cigarettes and denied payment because of a material misrepresentation. Can the insurer deny liability because of Manoj's false statement? |
|||
(5 marks) | ||||
(ii) | Joseph Basker Raj applied for a life insruance policy on his life. Five months after the policy was issued, he died. The death certificate named the deceased as Joseph Prakash Raj,.his true name. The insurer denied payment on the ground that Joseph had concealed a material fact not revealing his real identity. Is it correct on the part of the insurer to deny payment? Give reasons. |
|||
(5 marks) | ||||
(iii) | Ganeshan assigned his policy to his minor son Kartik and appointed the mother as the guardian to receive the money till his son was a minor. After sometime, the family needed the money and decided to surrender the policy. Whether surrender of the policy is possible? Suggest any other alternative by which Ganeshan can take back the ownership over the policy? |
|||
(5 marks) | ||||
(iv) | Suresh takes out an endowment policy for 15 years for Rs. 15,000 and the premium payable is Rs. 1,200 per annum. He pays premium for 3 years and then stops. What is the surrender value of the policy assuming that surrender value of bonuses already accrued is Rs. 300? |
|||
(5 marks) | ||||
(v) | Identify the type of hazard in the following cases giving reasons therefor:
|
|||
(1 mark each) |
2/2005/BILP | Contind... |
( 4 )
336 |
6. | (a) | Describe the role of the Export Credit Guarantee Corporation (ECGC) in risk management in international trade. |
||||||||||||
(8 marks) | ||||||||||||||
(b) | Explain the concept of 'subrogation'. How is the doctrine of subrogation applied on marine insurance policies, personal accident insurance policies and fire and miscellaneous insurance policies? |
|||||||||||||
(7 marks) | ||||||||||||||
7. | (a) | State briefly the functions which are mandated for the Insurance Regulatory and Development Authority (IRDA). |
||||||||||||
(5 marks) | ||||||||||||||
(b) | Narrate the salient features of licensing of surveyors and loss assessors. | |||||||||||||
(5 marks) | ||||||||||||||
(c) | Explain different types of marine insurance policies generally being issued by insurance companies in India. |
|||||||||||||
(5 marks) | ||||||||||||||
8. | Attempt any five of the following :
|
|||||||||||||
(3 marks each) |
---------o---------
2/2005/BILP