College of Administrative and Financial SciencesAssignment 1
Deadline: 30/4/2023@ 23:59
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. Differentiate between conventional insurance and takaful system in no less
than five items. (3 Marks)
Answer:
Q2. What are the differences between statutory and GAAP accounting and
explain pillars of the statutory accounting principles? (4 Marks)
Answer:
Q1. SAMA is the institution responsible for regulating and monitoring the
insurance market in Saudi Arabia and supervising companies operating in the
sector. Visit its website and compare its content to what you covered during the
course. Write no less than 300 words. (Marks 8)
Answer: