Accounting Question

Insurance accounting

College of Administrative and Financial Sciences
Assignment 1
Deadline: Saturday 7/10/2023 @ 23:59
Course Name: Insurance Accounting
Student’s Name:
Course Code: ACCT 424
Student’s ID Number:
Semester: 1
CRN:
Academic Year: 1445 H
For Instructor’s Use only
Instructor’s Name:
Students’ Grade: /Out of 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 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):
(15 Marks)
Q1. Discuss methods of setting premium rates in insurance companies (Manual rating, merit
rating, judgement rating)
(5 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:
(5 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.
(5 Marks)
Answer:
2