Insurance accounting ACCT 424

/in /by

College of Administrative and Financial Sciences

Assignment 1

Deadline: 14/1/2023@ 23:59

Course Name: Insurance AccountingStudent’s Name:
Course Code: ACCT 424Student’s ID Number:
Semester: IICRN:
Academic Year: 1444/1445 H

For Instructor’s Use only

Instructor’s Name:
Students’ Grade:  / 15Level 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):                                                        

Q1. Visit the following website for SAMA (https://www.sama.gov.sa/en-US/FAQs/Pages/InsuranceFAQs.aspx). Summarize its content in your own words and compare it to Insurance Laws you studied the course. (Marks 8)

Answer:

Q2. Differentiate between conventional insurance and takaful system focusing on the three elements that makes the conventional insurance (haram) prohibited under Islam laws. (7 Marks)

Answer: