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I Seat No. GANP AT UNIVERSITY M.B.A. SEMESTER-IV EXAMINATION APRIL 2011 ------ CC 204 ENTREPRENEURSHIP AND MANAGEMENT OF INNOVATIONS TIME: 3HRS. WT.: 40% Instructions: 1. This is a closed book examination. 2. All the questions are compulsory. 3. Figures to the right indicate weightage of an individual question. Q # 1 What do you mean by entrepreneurial opportunity? Explain in detail sources of entrepreneurial opportunity with suitable illustration, with its 08 % value proposition. Q # 2 Majority of the entrepreneurs face the question "what to produce?" The selection of the final product is the crucial decision in the process of entrepreneurship development. In this light, explain in detail the criteria for a product selection. 08 % Q # 3 Describe the role played by support institutions m promoting the entrepreneurship development in India. 08 (Yo Q # 4 Explain in detail the key issues involved while analyzing the project. 08 % Q # 5 Explain in detail the process of New Product Development (NPD). What common mistakes entrepreneurs do in NPD process? Is it advisable to involve the customer in the process ofNew Product Development? Explain your views in detail. 08 % END OF PAPER

GANP AT UNIVERSITY M.B.A. SEMESTER-IV … · CC 205 MANAGEMENT CONTROL SYSTEMS ... Q # 4 Describe the nature, scope & the provisions ... efficient concentration system? Write down

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I Seat No.

GANP AT UNIVERSITY M.B.A. SEMESTER-IV EXAMINATION

APRIL 2011

------

CC 204 ENTREPRENEURSHIP AND MANAGEMENT OF INNOVATIONS

TIME: 3HRS. WT.: 40% Instructions:

1. This is a closed book examination. 2. All the questions are compulsory.

3. Figures to the right indicate weightage of an individual question.

Q # 1 What do you mean by entrepreneurial opportunity? Explain in detail sources of entrepreneurial opportunity with suitable illustration, with its 08 % value proposition.

Q # 2 Majority of the entrepreneurs face the question "what to produce?" The selection of the final product is the crucial decision in the process of entrepreneurship development. In this light, explain in detail the criteria for a product selection. 08 %

Q # 3 Describe the role played by support institutions m promoting the entrepreneurship development in India. 08 (Yo

Q # 4 Explain in detail the key issues involved while analyzing the project. 08 %

Q # 5 Explain in detail the process of New Product Development (NPD). What common mistakes entrepreneurs do in NPD process? Is it advisable to involve the customer in the process ofNew Product Development? Explain your views in detail. 08 %

END OF PAPER

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Seat No. --------GANP AT UNIVERSITY

M.B.A. SEMESTER IV EXAMINATION April, 2011

CC 205 MANAGEMENT CONTROL SYSTEMS TIME: 3 HRS. WT.: 40°/o

Q#l

Q#2

Q#3

Q#4 Q#5

Q#6

Q#7

Discuss the different organizational structure from the control systems point of view in Multinational corporations. 5% What is a Discretionary Expense Center (DEC)? How are budgets for a DEC prepared? 5% Explain the relationship and interdependence between planning and control functions. Take necessary example to prove your case. 5% Discuss the internal audit from the accounting aspects of Control 5% Explain the Exchange Rates exposure that MNCs and its subsidiaries face and their Control Implications. 5% Discuss the behavioral aspects of Management Control for service organizations.

5% CASE STUDY 10%

(A) A business unit has invested Rs. 240 crore in assets . The investment was financed by Rs. 100 crore of equity expecting a return of 20% and the balance was funded by 10% debt. The unit earns profit before tax of Rs. 80 crore annually and attracts tax at the rate of 30%. Calculate the return on investments as well as EVA for the business unit. (B) A new plant entails an investment of Rs.l 000 million (Rs. 800 million in fixed assets and Rs .200 million in net working capital).The net working capital will be maintained at that level throughout the project life. The plant has an ec~nomic life of 10 years and it is expected to produce a NOPA T of Rs.l40 million every year. After 10 years, the net working capital will be realized at par whereas fixed assets will fetch nothing. The cost of capital for the project is 15 percent. Assume that the straight line method of depreciation is used for tax as well as reporting purposes. (i) What will be the EVA for year 3? (iii) What will be the CV A for year 3? (iv) What will be the CFROI for year 3?

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Seat No. ____ _

GANPAT UNIVERSITY M.B.A. SEMESTER- IV EXAMINATION

APRIL-MAY 2011 HR205 LEGAL ENVIRONMENT OF HRM

TIME: 3HRS WT:40%

Instructions: 1. Figures to the right indicate weight age of each question. 2. Substantiate your answers with relevant examples.

Q#l Explain the provision of 'set on' & 'set off in the Payment of bonus Act, 1965. Why has such a provision been made in the act. (8%)

Q#2 Write short notes on the following : (8%) A. Shortcomings of the Trade Union's Act, 1926 B. Hot stove rule. C. Model Grievance procedure D. Retrenchment as under the ID Act, 194 7

Q #3 What is the objective of Employees State Insurance Act, 1948? Enumerate (8%) the various benefits provided to employees under the provisions of this act.

Q # 4 Describe the nature, scope & the provisions under which the employer is (8%) liable to pay compensation to workers under The Workmen's Compensation

Q#5

Act, 1923.

Read the given case & answer the following questions:

The employees of ABC company started resorting to go slow, and covert agitational methods because they (employees) thought that the management had unilaterally revised the prices of canteen items without consulting the canteen committee. The management view was that since the recognized union's registration was cancelled due to non submission of return, therefore the management was not obliged to consult the employees. Consequently, the management also felt that the canteen constituted with the nominees of the then recognized union ceased to be representative body. The management entered into MOU with another registered union. The management constituted a canteen committee with the cooperation of the registered not recognized union. During the strike there were disturbances & accident in which an apprentice died. The management did not agree to pay the compensation on the plea that the

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(8%)

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lockout on the pretext of threat to the company's property. They also insisted that unless the employees signed 'good conduct certificate', the workers would be allowed to work. A section of workers were willing to sign that were there were another who did not want to sign it & dubbed the company of indulging in unfair labor practices.

Questions: A. Did the management resort to unfair labor practices? Explain. B. Is this a case of strike or lockout? Explain.

END OF PAPER

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GANP AT UNIVERSITY M.B.A. SEMESTER-IV EXAMINATION

APRIL 2011

Seat No. --

HR206 STRATEGIC HUMAN RESOURCE MANAGEMENT TIME:3HRS.

Instructions: All questions are compulsory. This is a close book exam. Supplement your answer with relevant examples and write to the points.

Q#l Explain the difference between Strategic HRM and Traditional HRM.

WT.: 40%

(8%)

Q#2 iti

Substantiate the importance of culture for effective organization. Give relevant examples (8%) of companies which you are familiar with.

Q#3 How shall the selection process be drafted for rapid growing multi-speciality hospital? (8%)

Q#4 Write a short note on Performance Appraisal System. (8%)

Q#S Explain the role of Human Resource Management in loss making organization. (8%)

END OF PAPER

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GANP AT UNIVERSITY M.B.A. SEMESTER-IV EXAMINATION

APRIL 2011 HR207 INTERNATIONAL HUMAN RESOURCE MANAGEMENT

TIME:3HRS. WT:40% Instructions:

1. All questions are compulsory. 2. Weightage is given on the right side of the question. 3. This is a closed book examination. 4. Write to the point and precise answers.

Q#l What are the challenges in international recruitment and selection faced by (6%) organizations? Explain with examples the approaches available to overcome such challenges.

Q#2 Compare and contrast HRM practices in India with that of Japan and USA particularly (6%) in relation with recruitment, selection, training and development, and compensation.

Q#3 Write a detailed note on Hofstede study. (6%)

Q#4 Explain the key issues in international labour relations management. Compare the (6%) structure, role and format of labour unions of India with that in the USA.

Q#S What are the various methods available for cross cultural research? Which method is (6%) most useful for service organization? Why?

Q#6 Write a note on ' Implications of cross cultural differences on organizational policies (6%) and culture'.

Q#7 Write a note on 'HR Issues in International Mergers & Acquisitions ' . (4%)

Seat No.

GANPAT UNIVERSITY M.B.A. SEMESTER-IV EXAMINATION

APRIL 2011

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FM205 WORKING CAPITAL MANAGEMENT TIME: 3HRS Instructions:

(1) It is a closed book examination (2) All questions are compulsory. (3) Figures to the right indicate the weightage of the question.

WT.: 40%

Q#l ABC Company is attempting to determine the optimum level of current assets (6%) for the coming year. Management expects sales to increase to approximately Rs 30 crore as a result of an asset expansion presently being undertaken. Fixed assets Rs 15 crore and the firm wishes to maintain 60% debt ratio. The firms

·r. J interest cost is currently 8%. (Both short term and long term) . The firm expects to generate EBIT at a rate of 12% on total sale. Three alternatives regarding the projected current asset level are available to the firm.

1) The tight policy requiring current assets of only 45% of projected sale 2) A moderate policy of 50% of sale 3) A relaxed policy of requiring current asset of 60% of sale. Assuming a 40% corporate tax rate what is the expected return on equity under each current asset level?

Q#2 The assistant treasurer for ABC Ltd wants to establish a transfer schedule that (6%) will achieve the desired average balance at the deposit bank will transfer the total deposits for the week and will have a transfer that moves money from deposit bank on Friday and Monday .She has decided that the Monday transfer should be Rs. 25,000. Determine the amount of the beginning balance that is required on Monday so that the average balance will be equal to the desired balance ofRs. 10,000. The avera e dail de osit is as follows:

Q#3 It is January and XYZ Ltd wishes to prepare monthly cash forecast over the next (6%) four months. Sales for the month of December were Rs 11,00,000. The expected sale for the next four months are Month Januar Februar March A ril Expected Sale 6,00,000__ 8,00,000 11,00,000 8,00,000

30% of the firm's sales are in cash. The remaining is collected in the month following the sale (there are no bad debts). Disbursements consisted of payments for raw materials, direct labor, other operating expenses, purchase of fixed assets

Page 1 of 2

and taxes. Cost of sales are 75% of sales. Of those cost of sales 38% are raw material costs and 62% are direct labour costs. Direct labour costs are paid in the month incurred, while raw materials are purchased on net 30 days term. Other operating expenses total 1, 50,000 per month. Expenditure for fixed assets of 75,000 are to be made in February and April and tax payment of Rs. 1, 10,000 are to be made in January and March. As of January 1 there is cash balance of Rs. 83,000. The firm keeps a cash balance equal to 10% of months cost of sales. Generate monthly cash forecast for upcoming four months.

Q#4 R&D Cosmetic company uses 80,000 gallons of pigment per year. The cost of (6%) ordering is Rs.500 per order, and the cost of carrying the pigment in inventory is Rs.2 per gallon per year. The firm uses pigment at a constant rate every day throughout the year.

• Calculate the EOQ • Calculate the total cost of the plan suggested by the EOQ • Determine the total number of orders suggested by this plan • Assuming that it takes 15days to receive an order once it has been

placed, determine the reorder point in terms of gallons of pigment by using 360-day year.

Q#5 Brief the different methods used for determining material requirements m (6%) inventory management.

Q#6 What are the different tools used by a company for the short term financing? (5%) Explain any two tools in details.

Q#7 What is meant by balance averaging and why it is important in managing (5%) efficient concentration system? Write down the objective functions of a cash disbursement system.

END OF PAPER

Page 2 of 2

Seat No.

GANPAT UNIVERSITY M.B.A. SEMESTER- IV EXAMINATION

--AP&-lf!U_

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FM206 . INTERNATIONAL FINANCIAL MANAGEMENT TIME: 3 HRS. WT.:40%

Instructions:

1. Show working as part of your answer. 2. Use of your own non-programmable calculator is permitted.

Q# 1 Explain the following (06%) 1. Indirect Quote 2. Gold Specie Standard and Gold Bullion Standard 3. Arbitrager 4. Hedger 5. EuroBond 6. Currency option 7.

Q # 2 Indian Balance Of Payment is in Surplus. Will it affect current account (06%) balance? What will likely happen to India's savings and Investment? Why?

Q # 3 Discuss any benefits you can think for a co. to (i) cross list its equity shares (06%) on more than one national exchange, and (ii) to source new equity capital from foreign investors as well as domestic investors.

Q # 4 An Australian company has to make a payment of USD 3.34 million in 3 (12%) months time for an import order. The current spot rate is AUS$ 40.02-03/USD. The finance manager of the co. thinks the spot rate on the maturity date is likely to be AUS$ 39.95-96. He contacted an authorized dealer for a forward rate and was given 3 month swap points of AUS$ 0.05-0.04/USD. On futures exchange a three month futures contract is available at AUS$39.95/USD. The size of one USD future contract is $5 , 00,000. Advice him on whether he should leave the payables unhedged. If he hedges, should he choose a forward contract or a futures contract?

Q # 5 Explain the factors to be considered in multinational capital budgeting that (06%) are not normally relevant for a purely domestic project.

Q#6 Write short note on International Working Management. (04%)

Seat No. ----

GANPAT UNIVERSITY M.B.A. SEMESTERLIV EXAMINATION

FM207 STRATEGIC FINANCIAL MANAGEMENT I

TIME· 3HRS. WT.:40%

Instructions:

1. It is closed book examination. 2. All the questions are compulsory. 3. Be precise and to the point in your answers.

Q#l Answer the following: 4% a) Sensitivity Analysis. b) You have the opportunity to invest ip the TCS at 25% interest. The inflation rate is

21 %. What would be the real rate of ~nterest? c) What is EVA? What is the differenc~, if any, between EVA and residual income? · d) Explain in brief, what do you mean by venture capital? ·

I

Q#2 What is an efficient market? Discuss six lessons of market efficiency. 4%

Q#3 Shipping corporation of India is considerin~ the purchase of a new bulk carrier for Rs. 10 4% million. The forecasted revenue are Rs. 4 ~illion. A major refit costing Rs. 2 million will be required after both the Third and Forth ~ears. After 7 years the ship is expected to be sold at scrap value ofRs. 1.5 million. If the discount rate is 8%, What is the ship's NPV? ·

Q#4 Which are the alternatives to distribute the returns to shareholders, if the company does not 3% want to give the dividend in cash directly? And also explain that how company decides the dividend policy?

Q#4 An auto plant that costs' Rs. 10 Cr. To bt1ild can produce a new line of cars that will 5% generate cash flows with a present value ofRs. 14 Cr. If the line is successful, but only Rs. 5 Cr. If it is unsuccessful. You believe that probability of success is only about 50 percent.

a) Would you build the plant? , b) Suppose that the plant can be sold for Rs. 9 Cr. To another automaker if the line is

not successful. Now would you build the plant? c) Illustrate this option to abandon using a decision tree.

Q#5 You need to choose between making a public offering and arranging a private placement. 5% In each case the issue involves Rs. 1 Cr~ Face value of 10 year debt. You have the following data for each:

a) A public issue: the interest rate on the debt would be 8.5 percent, and the debt would issue at face value. The underwnting spread would be 1.5 percent, and other expenses would be Rs. 80,000.

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Q#6

Q#7

Q#S

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b) ould be 9 percent, A private placement: the interest rat~ on the private placement w but the total issue expenses would b~ only Rs. 30,000.

I

Which is the better deal? Why? What other\factors beyond the interest ra te and issue costs would you wish to consid_er before deciding retween the two offers?

I I I

Explain in detail the defensive strategies winch are available with an or ganization against So/o takeovers. i

As a financial head of TIS CO vou are inves~gating the possible acquisitio Particulars TIS CO f SAIL Earnings per share Rs. 5.00 I Rs. 1.50 Dividend per share Rs. 3.00 : Rs. 0.80 No. of shares 10,00,000 6,00,000 Stock prices Rs. 90 ! Rs. 20

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You estimate that investors currently exp~ct a steady growth of abo ut 6% in SAIL'S be increased to 8% earnings and dividends. Under new manage~ent this growth rate would

per year. Without any additional capital inv~stment required:

i a) What is the gain from the acquisition? b) What is the cost of the acquisition 4f TIS CO IF .IT PAYS Rs. 2

share of SAIL? ; 5 in cash for each

c) What is the cost of acquisition if TIS CO offers one share of TIS CO for every three shares of SAIL? i

' What is leasing? Explain the sensible and d~bious reasons for leasing.

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END OF THE PAPER

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5%

GANP AT UNIVERSITY M.B.A. SEMESTER-IV EXAMINATION

APRIL 2011 MM 205 SERVICES MARKETING

TIME:3HRS. WT:40%

Instructions: 1. All questions are compulsory. 2. Weightage is given on the right side ofthe question. 3. This is a closed book examination. 4. Write to the point and precise answers.

Q#l

~ Q#2

Define Service? Describe how consumers judge goods versus services in terms of (6%) search, experience, and credence criteria. Explain with examples. Distinguish between company-defined and customer-defined service standards.

Explain factors that influence building of customer perceptions of service and the (6%) relationships among customer satisfaction, service quality, and individual service encounters.

Q#3 (A) Discuss the four common types of constraints (time, labor, equipment, and (6%) facilities) facing service businesses and give an example of each.

(B) For what types of products and services would research on the Internet be preferable to traditional research?

Q#4 Describe and give an example of how servicescapes play each of the following roles: (6%) package, facilitator, socializer, and differentiator. How can an effective physical evidence strategy help to close provider gap 2?

Q#S Discuss the nature of consumer complaints and why people do and do not complain. (6%) Provide strategies for effective service recovery, together with examples of what does and does not work.

Q#6 Why is it challenging to design and develop services? What are the risks of attempting ( 6%) to describe services in words alone? Develop service blueprint for a hair saloon for men.

Q#7 What is the difference between desired service and adequate service? Why would a (4%) services marketer need to understand both types of service expectations? Explain with examples.

Seat No .. ___ _

fv\, g. A ;M. I. B. Mfv'\ &o!

GANP AT UNIVERSITY SEMESTER- IV EXAMINATION

APRIL 2011 IMC212 STRATEGIC MARKETING AND BRAND MANAGEMENT

TIME: 3HRS. WT.:40% Instructions: 1. All the questions are compulsory.

2. Figure on the right side indicates the weightage of the question.

Q # 1 "When it comes to developing a brand, name is the single most important decision (4%) which can be taken by the marketer himself. The rest is decided by customers depending on how distinct the service or product is, when compared to that of the competitors."- Agree or Disagree? Justify your statement with suitable example.

Q # 2 "Positioning a brand involves choice of a target market, a competitive arena, and (4%) the sets of features and associations in which a brand is going to be similar to and different from its rivals."- Critically evaluate the statement and substantiate your answer with suitable example.

~ Q # 3 What do you mean· by Ambush Marketing? Why companies use Ambush (7%) Marketing strategies? How it is done? Explain with suitable example. Is Ambush Marketing ethical? Justify.

Q # 4 "On one hand companies are approaching global market segmentation by (8%) attempting to identify consumers with similar needs and wants reflected in their behaviour in the marketplace in a range of countries, which enables a company to develop reasonably standardize programmes requiring little change across local market. While on other the other marketer has started using the extensive market segmentation strategy. They have begun segmenting their markets and developing different products and marketing programmes targeted at different segments." Develop the critics on the situation. Also explain which environmental changes leads to such kind of situation?

Q # 5 American Marketing Association has defines brand as "a name, term, sign, symbol (6%) or any other feature that identifies one seller's product or service as distinct from that of other sellers.". Critics argued that this formal definition has excluded the key characteristic of service, i.e. service as a process as well as customer who participates in the service creation and delivery process. - Agree or Disagree? Justify your argument with suitable example.

Q # 6 What are the key challenges and threats an international marketer needs to consider (4%) while entering into overseas market. Explain in details with suitable example.

Q # 7 "Irrespective of the difference between men and women on various parameters, (7%) sports goods manufacturers and sports events marketers pursued their traditional male oriented marketing policies for many decades. However, in recent times a radical change in the social and financial status of women saw many of them taking up sports as a career. This has caused marketers to add a female oriented focus to their strategies. In such a situation, Marketing Sports to Women has not only become a challenge but also an opportunity for marketers" - Elaborate the statement and device the marketing strategies with suitable example.

ENDOFPAPER

Seat No. __ _ GANP AT UNIVERSITY

MBA SEMESTER- IV EXAMINATION

APR ltl14 -MM2o7 RETAIL MANAGEMENT

Time: 3 Hours Weightage: 40% • Attempt all questions. • Each question carries equal marks.

1. Define retail in g. Discuss the scope and prospects of r~tuil sector in the Indian context, describing the drivers of growth of retailing in the country?

2. How important is the role of pricing in retail marketing mix? Briefly discuss the various retail pricing approaches available to the retailer.

3. What makes locational decisions in retailing strategic in nature? Discuss with suitable examples the factors necessary to consider before selecting a final site for any store.

4. Briefly discuss the various types of non-store retailing currently in vogue. What are their limitations?

5. What are the stages of consumer decision making and their impact on retail strategies? Explain with suitable examples.

GANP AT UNIVERSITY M.B.A. SEMESTER-IV EXAMINATION

APRIL 2011 SCC A202 MANAGING HOSPITALITY SERVICES

TIME:3HRS. WT:40% Instructions:

1. All questions are compulsory. 2. Weightage is given on the right side of the question. 3. This is a closed book examination. 4. Write to the point and precise answers.

Q#l What are the various methods of classification of Hotels? Draw and explain the (6%) organizational structure of a large luxury hotel.

Q#2

Q#3

Q#4

Q#S

Q#6

Q#7

What are the functions of Room Division in a Hotel? How in-room services and (6%) facilities differ among various categories of Hotel? Explain with real examples.

Explain the structure of Food and Beverages Department in a large luxury hotel, (6%) detailing the role and function of each sub-system within. Explain with examples various types of food service and catering establishments.

What are the various methods of pricing the room? What factors influence the room (6%) charges and pricing?

Write a detailed note on important features of Food Adulteration Act. (6%)

Explain the procedure for renewal, suspension & termination of restaurant license. (6%)

Write note on 'The Water (Prevention and Control ofPollution) Act'. (4%)

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Seat No .. ___ _

GANP AT UNIVERSITY M.B.A. SEMESTER-IV EXAMINATION

APRIL 2011 SCC C202 INSURANCE MANAGEMENT

TIME: 3HRS. WT.: 40%

INSTRUCTION: • This is closed book examination. • Right hand side indicates weight. • Answer to the point. • Give appropriate example when needed.

Q#l Explain following: (A) Business model used in insurance companies (B) No brightline test used in insurance companies

(8%)

Q#2 Classified and explain types of insurance companies. Also, compare insurance (8%) with gambling.

Q#3 Show Insurance as risk management tool and brief the pricing objectives of (8%) various insurance products.

Q#4 Brief the following Act: (8%) (A) Life Insurance Act, 1956 (B) Insurance Regulatory and Development Authority Act, 1999

Q#5 Read following and brief the different insurance, discussed by author and also (8%) explain legal aspect associated with policy.

Auto Insurance - Case Study

Much counsel has been offered on how to get an auto insurance cover that would work out to be the cheapest and at the same time be most effective.

Advocates suggest surfing online. Contacting insurance agents or working with references ought to provide all answers and a panacea to all problems related to auto insurance. The plethora of information available is so mind-boggling, besides, certain terminology is not of cun·ent usage or in layman's terms proves to be cumbersome to be read and comprehended. The site does offer an option of frequently asked questions along with the answers to take care of most oft asked common queries. Yet at times, even the answers provided do not suffice to throw light with clarity on the subject matter. Hence, I endeavor to simplify the common doubts that arise on reading about auto insurance coverage details, options, and clauses.

Umbrella policy as the name suggests extra cover on your auto insurance policy and homeowner's insurance policy, to cover all those aspects, which do not fall within the purview of the insurance cover offered individually by the respective policies. Auto insurance expenses are high and yet at times the cover offered falls short of the actual damages. In these circumstances it pays to take an umbrella cover, which by paying a one-time premium ranging from $200 to $300 takes care of the extra coverage and all your damages in case of an accident. The insured amount can be high as one million to five millions of dollars. Acting like a safety net, this cover gives you much needed peace of mind in these days of stress.

Comprehensive cover and collision cover as the very words suggest literally -provide protection accordingly. In case of comprehensive insurance, the cover would deem to include damage arising out of naturally occmTing disasters -example fire, hail, storm, etc. Whereas collision cover would deem to mean cover for damages arising out of collision- to be precise an accident cover only. Most lenders and banks mandate the purchase of both comprehensive and collision cover which may vary from state to state. To illustrate Katrina would affect one particular state more than the others.

Most states do not allow the addition of teenagers who have a drivers permit to the insurance policy cover.

Exception to this would be, if an insured driver accompanies them. In this case, they would be automatically covered under the insured driver's policy. On receiving their license though, teenagers are required to obtain their own insurance cover.

Out-of-state tickets received will show up on your DMV records if that particular state happens to fall within the purview of the Driver's License agreement (DLA). Therefore, the insurance company would have access to all your DMV records from all those states that are a part of the DLA.

When purchasing a new car on borrowed money it makes sense to go in for gap insurance. In the event of an accident to your new car where it is damaged fully, the insurance cover would stretch up to a maximum to include the total outstanding dues of the borrowed money. That means over and above the insured amount, in case there is outstanding dues left to be paid off on the auto finance, gap insurance would take care of the difference.