Description
please follow the file’s instruction
please avoid plagiarism and writ in your own words
Assignment (1)
Deadline: Saturday 01/03/2025 @ 23:59
Course Name: Insurance Accounting
Student’s Name:
Course Code: ACCT 424
Student’s ID Number:
Semester: Second
CRN: 25846
Academic Year: 1446 H
(2024-25)
For Instructor’s Use only
Instructor’s Name:
Students’ Grade:
/15
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. Any submission without the cover page will not be accepted.
• Students must NOT delete the question and write their answer underneath each
question.
• 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.
This include using artificial intelligence (AI) tools to solve the assignment.
• All answers 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.
College of Administration and Finance Sciences
Assignment Questions:
(Marks 15)
Q1. “The primary purpose of insurance is to provide financial protection against uncertain losses.”
Comment on this statement and define the concept and purpose of insurance. Explain the broad
categories of different types of insurance along with their significant features.
Note: You are required to provide examples of Saudi Companies. (5 Marks) (Chapter 1)
Answer:
Q2. Discuss the factors that influence insurance premiums for different types of insurance. Explain
the key functions involved in the Premium Transaction Flow with suitable examples. (5 Marks)
(Chapter 3)
Answer:
Q3. Explain the significance of loss reserve for an insurance company. Critically examine the various
components involved in the loss reserve. Define the estimating methods used in estimating and
evaluating the loss reserves with suitable examples.
(5 Marks) (Chapter 4, Part One)
Note: You are required to provide examples of Saudi Companies.
Answer:
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