Insurance & Risk Management Final Spring 2025 Question Paper

[Answer all the following questions] 1. a. Interpret the types of marine insurance policies. (5) 10 b. Compare between valued and unvalued policy of marine insurance with appropriate examples. (5) [CLO 1, Level 2] 2. a. Examine challenges, prospects and awareness of insurance among the potential consumers in Bangladesh. (5) 10 b. Summarize common perils in marine insurance with examples. (5) [CLO 1, Level 2] 3. Using following information estimate the insurance claim for Valued and Unvalued marine insurance policy. (10) Insured 2000 bags for Tk. 6,000 Damaged 200 bags (would realize Tk. 1 per bag) Requirement: Prepare Particular Average Statement assuming goods would have realized Tk. 2 per bag in their undamaged condition Additional information: Sales commission=1% Survey fee= Tk. 50 Selling expenses= Tk. 60 [CLO 3, Level 4] 4. Dr. Sabrina insured her house and also furniture for Tk 50,000 to company A and only house to company B for Tk. 30,000. The loss was ascertained by fire and actual loss was calculated for house Tk. 20,000 and for furniture Tk. 5,000. Estimate how much Dr. Sabrina recovered from each insurer. (10) [CLO 3, Level 4]