Accounting Question

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

• All answers must be typed usingTimes 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.

-Note: You must explain the factors with suitable examples.

College of Administration and Finance Sciences
Assignment (1)
Deadline: Saturday 12/10/2024 @ 23:59
Course Name: Insurance Accounting
Student’s Name:
Course Code: ACCT 424
Student’s ID Number:
Semester: First
CRN:
Academic Year: 1446 H
(2024-25)
For Instructor’s Use only
Instructor’s Name: Dr. Amar Johri
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.
• 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 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. Critically examine the role of the insurance sector in the growth and development of an economy.
Explain the different types of insurance products with suitable examples and provide some examples
of Saudi companies.
(4 Marks) (Week 1, Chapter 1)
Note: Your answer must include suitable examples explaining the various types of insurance
products.
Answer:
Q2. What is a premium, and what purpose does it serve for an insurance company? What are the
various types of premium adjustments? Explain each one with suitable examples.
Note: Your answer must include suitable examples explaining the various types of premium
adjustments.
(4 Marks) (Week 2, Chapter 3)
Answer:
Q3. Define the various steps involved in the transaction cycle in the claim management process.
Support your answers with suitable examples.
(4 Marks) (Week 3, Chapter 4, Part One)
Note: Your answer must include an explanation of each transaction cycle.
Answer:
Q4. What do you mean by loss reserve specialist? What are the various factors that determine whether
an individual is qualified as a loss reserve specialist?
(3 Marks) (Week 4, Chapter 4, Part Two)
Note: You must explain the factors with suitable examples.
Answer: