Students who are interested to work in insurance companies are tested through the paper and their ability and understanding are known to the companies who will provide those jobs after the completion. Paper is for both the insurance assets either it is life or non-life. Principles involved in both the insurance business are understood carefully.

Importance of the paper:

There are lots of career options for the students after the completion of the course. One of the preferable choices for the candidates is to join companies as insurance agent. Life and non-life insurance terms are important to learn in the field and the paper provides them the opportunity to learn the terms.

Pattern:

Paper of Practise of General Insurance consists of 10 questions in it and students have to answer the questions of only 8 questions. Question no. 1 is compulsory to be attempted which is of 16 marks. Other questions are of 12 marks each. The paper covers the entire syllabus of the examination. Each question is divided into sub-questions of equal marks.

Frequently asked questions:

Questions in the paper are such as detailed essentials of a valid contract as well as insurance contract, Concept of risk and its types, solvency, general insurance business, management of risk,insurable interest,sue and labour, risk sharing and risk transfer, salvage, the Lloyds, reinstatement value, insurance contract and the parties involved in that, registration of brokers,self-insurance–advantages and disadvantages of self-insurance, government as insurer, asbestosis- workmen’s compensationsubrogation, life insurance business, general average,co-insurance, indemnity, fidelity guarantee policy, particular average, constructive total loss, case of family floater covering health insurance etc.

Time and marks:

Paper is needed to be solved within 3 hours and marks associated with a paper are 100 only.

Recommended books:

Regulations on insurance

Practice of general insurance