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EMAIL:gabrielmusyoka940@gmail.com
, Confidential
UNIVERSITY EXAMINATIONS
Oct/Nov 2021
ISR3702
Life Insurance
Total marks: 70
Exam duration: 3 hours
This paper consists of 22 pages, including 2 pages for rough work.
Instructions:
1. Answer all the questions.
2. The use of invigilator app is compulsory for ISR3702 module. Please find QR code and the
instruction on the attached document (see second attachment).
3. Remember to complete the declaration of honesty.
4. Students must upload their answer scripts in a single PDF file (answer scripts must not be
password protected or uploaded as “read only” files).
5. NO e-mailed scripts will be accepted.
6. Students are advised to preview submissions (answer scripts) to ensure legibility and that the
correct answer script file has been uploaded.
7. Students are permitted to resubmit their answer scripts should their initial submission be
unsatisfactory.
8. Incorrect file format and uncollated answer scripts will not be considered.
9. Incorrect answer scripts and/or submissions made on unofficial examinations platforms
(including the invigilator cellphone application) will not be marked and no opportunity will be
granted for resubmission.
10. A mark awarded for an incomplete submission will be the student’s final mark. No opportunity
for resubmission will be granted.
11. A mark awarded for illegible scanned submission will be the student’s final mark. No
opportunity for resubmission will be granted.
12. Submissions will only be accepted from registered student accounts.
13. Students who have not utilised invigilation or proctoring tools will be subjected to disciplinary
processes.
14. Students suspected of dishonest conduct during the examinations will be subjected to
disciplinary processes. Unisa has a zero tolerance for plagiarism and/or any other forms of
academic dishonesty.
15. Students are provided one hour to submit their answer scripts after the official examination
time. Submissions made after the official examination time will be rejected by the examination
regulations and will not be marked.
16. Students experiencing network or load shedding challenges are advised to apply for an
aegrotat and submit supporting evidence within three days of the examination session.
17. Students experiencing technical challenges should contact the SCSC on 080 000 1870 or via
e-mail CEMSexams@unisa.ac.za or refer to the Get-Help resource for the list of additional
contact numbers. Communication received from your myLife account will be considered.
, Page 2 of 22
Confidential ISR3702
Oct/Nov 2021
Question 1 [18 marks]
Read the scenario below and then answer the question that follow.
Luja and Kim planned to get engaged in August 2021, after the birth of their second child
Kgomotso, who is expected to be born in July 2021. Their first child is Justice who is currently
thirteen-years of age. Luja has another child with Tshifularo, Nthabeleng, who is currently
twenty-three years of age and studying at a university.
Unlike Luja who was a qualified engineer, Kim was a seasonal income earner and depended
on Luja for support. After giving birth to Kgomotso in July 2021, Luja was involved in a terrible
car accident and died.
Luja’s mother, Thami, used to receive a monthly amount of R1000 from Luja, even though she
was a retired dental medical professional. When Luja died, Thami also submitted a claim to
Luja’s deceased estate. Having realised the high cost of a burial while planning Luja’s funeral,
Kim submitted life insurance proposals on his own life and that of his children as well as
Nthabeleng and Thami’s life. Luja’s testamentary will was declared null and void by the court.
The latest records of Luja’s financials show the following:
Amount available for distribution from the deceased estate R383 000
Accumulated retirement annuity value R520 000
Nthabeleng found that the accumulated retirement value may have been understated by
R100 000. However, the management of the retirement fund disagreed with Nthabeleng.
Nthabeleng declared a dispute with the management of the retirement fund.
TURN OVER
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