Insurance 3Q College of Administrative and Financial Sciences Assignment 1 Deadline: Saturday 05/03/2022 @ 23:59 Course Name: Insurance Accounting

Insurance 3Q College of Administrative and Financial Sciences

Assignment 1
Deadline: Saturday 05/03/2022 @ 23:59

Course Name: Insurance Accounting

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3Q

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College of Administrative and Financial Sciences

Assignment 1

Deadline: Saturday 05/03/2022 @ 23:59

Course Name: Insurance Accounting

Student’s Name:

Course Code: ACCT 424

Student’s ID Number:

Semester: 2


CRN:

Academic Year: 1443 H

For Instructor’s Use only

Instructor’s Name:

Students’ Grade: /Out of 10

Level of Marks: High/Middle/Low

Instructions – PLEASE READ THEM CAREFULLY

· The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.

· Assignments submitted through email will not be accepted.

· Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.

· Students must mention question number clearly in their answer.

· Late submission will NOT be accepted.

· Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.

· All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).

· Submissions without this cover page will NOT be accepted.


Assignment Question(s):
(10 Marks)

Q1. Discuss methods of setting premium rates in insurance companies (Manual rating, merit rating, judgement rating) (3 Marks) 

 


Answer: 

Q2. Identify any two insurance companies in Kingdom of Saudi Arabia and explain any two insurance products offered by them. Your answer should be based on following points:

(4Marks)

i. Name of the Company

ii. Type of Insurance

iii. Premiums

iv. Significant features of the insurance product


Answer:

Q3: Discuss in detail the various functions involved in “Transaction Cycle” with suitable examples. (3 Marks)


Answer:

2

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