INSURANCE (786) Sample Question Paper Class XII - 2018-19: Loss For A Feeor Consideration

INSURANCE (786)
Sample Question Paper

Class XII - 2018-19
Time: 3 Hours Max. Marks: 60
General Instructions:
1. Question paper is divided into two sections: Section-A and Section- B.
2. Section–A:
i. Multiple choice question/Fill in the blanks/Direct Questions of 1 mark each. Answer
any10 questions out of the given 12 questions.
ii. Very Short Answer of 2 marks each. Answer any 5 questions from the given 7 questions.
iii. Short Answer of 3 marks each. Answer any 5 questions from the given 7 questions.
3. Section–B:Long/Essay type questions of 5 marks each. Answer any 5 questions from the given
7 questions.
4. All questions of a particular section must be attempted in the correct order.
5. Please check that this question paper contains 33 questions out of which 25 questions are to be
attempted.
6. The maximum time allowed is 3 hrs.
SECTION –A
Answer any 10 questions out of the given 12 questions:
1. State the term used to provide the coverage for the potential financial (1)
loss for a feeor consideration.
2. Name the documents that are accepted as age proof ininsurance. (1)
3. „Automotive Insurance‟ is generally referred toas (1)
4. State one point of difference between Robbery and Burglary. (1)
5. In which year does the General Insurance business was nationalized? (1)
6. The Insurance that provides protection against loss of freight is called (1)
Insurance.
7. Under CIFcontracts,the seller is responsible for arranging the & (1)
delivering the goods at port of destination.

I. Vehicle
II. Ferry
III. Crane
IV. Ship
Page 1 of 4
8. Senior Citizen Mediclaim policy is available to a resident in India between the (1)
age of 60 & 80 years. If renewed without break, the cover can be continued upto
the age of .
9. Mediclaim Insurance was primarily introduced to cover charges. (1)
I. Insurance
II. Hospitalization
III. Nursing
IV. Accident
10. In policy, a fixed amount is paid as compensation irrespective of theloss. (1)
I. Valued
II. Fixed
III. Mandatory
IV. Legal
11. What is Fire Insurance? (1)
12. For what period are fire insurance policiesissued? (1)
Very Short Questions: (2 marks each).

13. State the meaning of the term „Business Hours‟ in context to burglary and (2)
theftinsurance.
14. In case of an accident of a motor vehicle by a person who does not hold a (2)
valid drivinglicense, the risk under motor insurance will not be covered? Why?
15. State the Exceptions to the „Principle ofIndemnity‟. (2)
16. Explain the Principle ofContribution. (2)
17. List the various exclusions from motor vehicle insurancepolicy. (2)
18. Mahendra obtains a bank loan. Swami gives a written undertaking to the bank to (2)
repay this loanif Mahendra fails to do so. State giving reason whether it is a
contract ofinsurance.
19. State the meaning of the term „Cash Less Facility‟? (2)
Page 2 of 4
Short Questions: (3marks each).
20. Distinguish between the two types of total losses with reference to marine (3)
insurance.
21. Transit of goods by sea has various risks associated with it‟. Explain any four such (3)
risks.
22. “While general contracts work on the principle of „simple good faith‟ insurance (3)
contracts work on the principle of „utmost good faith‟” Explain the statement with
reasons.
23. Explain giving reason: (3)
a) Under medical insurance in the first year any claims during the first 30
days from thedate of cover are not payable in all cases including
accidental injury.Why?
b) Medical Expenses incurred by the insured person, outside India, as a direct
result ofbodily injuries caused or sickness & disease contracted are
covered by Senior citizen Policy. Do youagree.
24. (3)
Can Fire Insurance Policy be assigned? Mention the probable reasons for it.
25. Distinguish between General Insurance from life insurance on any three (3)
parameters.
26. „Theft Insurance Policy covers only theft and burglary and cannot be (3)
extended to cover riots, strikes, malicious damage or theft‟. Explain with
reason?
SECTION –B
Long/Essay type questions (5 marks each).
27. (a) List the various covers available to senior citizens under Senior citizen (5)
Mediclaim Policy.
(b) State the additional add–on benefits that a person can take along with
Overseas Medical Policy.
28. Explain in detail the procedure of taking Fire Insurance Policy. (5)
29. Explain the various exclusions from Theft Insurance policy. (5)
30. List out key documents required for settlement of marine cargo insurance claim. (5)
31. Which principles of insurance is highlighted in the following statement? Explain in (5)
brief?
1. Insurer is not liable for any uninsuredcauses/perils.
Page 3 of 4
2. Insured should not make any profit in any way or as a consequence ofloss.
32. Describe briefly the establishment and incorporation of„IRDA‟. (5)
33. What is the quantum of liabilityunder: (5)
(a) Third Partyinsurance.

(b) On the principle of „NoFault‟
Page 4 of 4

INSURANCE (786) Sample Question Paper Class XII - 2018-19: Loss For A Feeor Consideration

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INSURANCE (786)

Sample Question Paper

Answer any 10 questions out of the given 12 questions:

3. „Automotive Insurance‟ is generally referred toas (1)

4. State one point of difference between Robbery and Burglary. (1)

7. Under CIFcontracts,the seller is responsible for arranging the & (1)

delivering the goods at port of destination.

9. Mediclaim Insurance was primarily introduced to cover charges. (1)

11. What is Fire Insurance? (1)

12. For what period are fire insurance policiesissued? (1)

Very Short Questions: (2 marks each).

15. State the Exceptions to the „Principle ofIndemnity‟. (2)

16. Explain the Principle ofContribution. (2)

32. Describe briefly the establishment and incorporation of„IRDA‟. (5)

33. What is the quantum of liabilityunder: (5)

(a) Third Partyinsurance.

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