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Insurance and Risk Management NMIMS Solution December 2021

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NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Insurance & Risk Management
Internal Assignment Applicable for December 2021 Examination
Assignment Marks: 30

Instructions:
 All Questions carry equal marks.
 All Questions are compulsory
 All answers to be explained in not more than 1000 words for question 1 and 2 and for question
3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far
as possible.
 All answers to be written individually. Discussion and group work is not advisable.
 Students are free to refer to any books/reference material/website/internet for attempting
their assignments, but are not allowed to copy the matter as it is from the source of reference.
 Students should write the assignment in their own words. Copying of assignments from other
students is not allowed.
 Students should follow the following parameter for answering the assignment questions.

1. Vaishali is working as an actuarial in an insurance company. Few of the new joiners have
been appointed as an underwriter in their department. Vaishali’s manager asks her to prepare
a short presentation on the various methods used by them in calculating the premium rate.
Help Vaishali to complete the assigned task. (10 Marks)
For Theoretical Answer
Assessment Parameter Weightage
Introduction 20%
Concepts and Application
related to the question
60%
Conclusion 20%
For Numerical Answer
Assessment Parameter Weightage
Understanding and usage
of the formula
20%
Procedure / Steps 50%
Correct Answer &
Interpretation
30%
NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Insurance & Risk Management
Internal Assignment Applicable for December 2021 Examination
2. Mr. Manohar is married and have two kids. He has recently undergone a surgery, which
made him think about the financial security for his dependents after his death. Hence, he
decided to meet his friend who was an insurance advisor to understand the life insurance
policy and the various benefits attached to with this policy .Explain Mr .Manohar on life
Insurance policy with its need. (10 Marks)
3. Shyam is working in a private investment firm. Unlike his parents who had a government
job and had retirement benefits, shyam lacks on that front being in a private firm. Now he
is worried about his retirement years.
a. As an insurance agent, discuss the various Risk, which Shyam will consider while planning
his retirement plan. (5 Marks)
b. Also explain the various steps which will be involved in framing the retirement plan
(5 Marks)
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