The question is attached.
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 inKingdom 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:
College of Administrative and Financial Sciences
Assignment 1
| 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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