College of Administrative and Financial Sciences Assignment 1 Deadline: 10/10/2020@ 23:59 Course Name: Insurance Accounting Student’s Name: Course Code: ACCT 424 Student’s ID Number: Semester: 1 CRN: Academic Year: 1441/1442 H For Instructor’s Use only Instructor’s Name: Students’ Grade: Marks Obtained/Out of 5 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. 1 Assignment Question(s): (5 Marks) Q1. Discuss methods of setting premium rates in insurance companies (Manual rating, merit rating, judgement rating) (1 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: (2 Marks) 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. (2 Marks) Answer: 2
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