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Help me please in those Assignment Questions: (Marks 15)
1—- Line of Insurance
Help me please in those Assignment Questions: (Marks 15)
1—- Line of Insurance can further be classified as primary coverage or reinsurance assumed. Primary coverage involves policies written between an insurer and a customer directly. Reinsurance coverage involves the transfer of the insurer’s risk to a reinsurer. Explain the various types of reinsurance in detail. (5 Marks)
2—- Define an Insurance Company as per Federal Income Taxation. State the conditions for an Insurance company to be treated as Tax Exempt. (2 Marks)
3—- What are primary methods used to assess guaranty funds assessments for property and liability insurance firms? Explain them. (3 Marks)
4—- Pass the Journal Entries of the following transactions for Takaful Products: (5 Marks)
Contribution made by new the participants SAR 10,000, Contribution made by renewal participants SAR 5000
Commission given to the agent SAR 2000
Portfolio Investment made by Takaful Operators SAR 12,000
Management Expenses incurred For fund manager SAR 3,000
Selling of Investment Assets of worth SAR 8500 sold for SAR 9000
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NB: We do not sell prewritten papers. All essays are written from scratch according to are specific needs and instructions
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