Insurance Past Questions

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48 questions JAMB 1 WAEC 143 CUSTOM 1
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Past Questions

48 questions
Question 1 of 20 48 total questions
Question 1
waec 2018

jaguna's repaired expenses of N75,000 would be paid by

Ajaguna's insurer
Bjaguna
CBasanya's insurer
DBasanya
View Explanation & Discuss
Question 2
waec 2018

The compensation would be calculated as

AN75,000 payable to jaguna
BN80,000 payable to jaguna
CN155,000 payable to basanya
DN230,000 payable to basanya
View Explanation & Discuss
Question 3
waec 2018

The effect of the minimum cover on the two vehicles is the the?

Atwo vehicles will be repaired by jaguna's insurer
Binsurer of each vehicle is responsible for the repairs
Cvehicle of Basanya will be repaired by jaguna's insurer
Dtwo vehicles are not entitled to compensation from the insurer
View Explanation & Discuss
Question 4
waec 2018

An insurance that could be effected with profit feauture is

Aterm insurance
Bpublic liability insurance
Cendowment assurance
Dpersonal accident insurance
View Explanation & Discuss
Question 5
waec 2018

A manufacturing company whose production was abruptly stopped by fire incidence would have its claim for loss of earning settled under the class of

Afire insurance
Ball risk insurance
Cproduct liability insurance
Dconsequential loss insurance
View Explanation & Discuss
Question 6
waec 2018

family income benefit effected without capital benefit pays the sum assured from the date of?

Adeath of the assured till a specified period
Bsurvival of the assured till a specified period
Csurvival of the assured till a specified period
Dpersonal accident insurance
View Explanation & Discuss
Question 7
waec 2018

one of the duties of  a loss adjustor is

Aadvice the claimant on claims processing
Bensure prompt payment of claims
Cestimate maximum loss
Dinvestigate the cause of loss
View Explanation & Discuss
Question 8
waec 2018

The peril  insured against by musa is 

Athe loan
Bdeath
Cbad debt
Ddisability
View Explanation & Discuss
Question 9
waec 2018

The subject matter of insurance in the package is?

Aobinna's life
Bthe N2,000,000 loan
Cmusa's life
Dthe sum assured of N20,000
View Explanation & Discuss
Question 10
waec 2018

car plying the road seeking passengers for payment of fares are classified by insurers as?

Aprivate motor
Bcommercial vehicle
Cmotor trade
Dgeneral cartage
View Explanation & Discuss
Question 11
waec 2018

payment of compensation under professional indemnity insurance would be influenced by?

Aassault
Btrespass
Cnuisance
Dnegligence
View Explanation & Discuss
Question 12
waec 2018

A factor to be considered before a proposal for endowment assurance is accepted is the proposer's?

Amarital status
Bplace of birth
Cdate of birth
Dsocial status
View Explanation & Discuss
Question 13
waec 2018

A condition which the insuring public would use to evaluate the financial stability of an insurer is?

Aprompt payment of claims
Badequate reinsurance treaty
Callowance for ex-gratia payment
Dsettlement of investigated claims
View Explanation & Discuss
Question 14
waec 2018

one of the perils of nature is?

Aheating
Bearthquake
Ccivil commotion
Dspontaneous combustion
View Explanation & Discuss
Question 15
waec 2018

A loss assessor in a claim settlement process is representing the interest of the?

Ainsured
Binsurer
Creinsurer
Dbroker
View Explanation & Discuss
Question 16
waec 2018

A reinsurance cover of N100,000 in excess of N20,000 was entered by insurer K with reinsurer M. In the event of a loss amounting to N120,000, M would pay? 

AN20,000
BN120,000
CN80,000
DN100,000
View Explanation & Discuss
Question 17
waec 2018

The insurance professional who assist the third party to evaluate the extent of loss in a motor accident is

Aa loss adjustor
Ba loss assessor
Ca consultant
Dan investigator
View Explanation & Discuss
Question 18
waec 2018

An insurance policy is subject to a franchise of N115,000, how much would an insured who suffered of N120,000 recieve as compwnsation

AN5,000
BN115,000
CN120,000
DN235,000
View Explanation & Discuss
Question 19
waec 2018

A general question in an insurance proposal form is

Aname of the proposal
Bcarriage of fare-paying passenger
Cdescription of the proposers' premises
Dmethods of construction
View Explanation & Discuss
Question 20
waec 2018

insurers requesting for membership of Nigeria Insurers Association is required by law to?

(i) have been registered with NAICOM (ii)operate with sound insurance principles (iii) hold membership of CHN (iv)  ascribe to the policy holding of NIA 

Ai, ii and iii only
Bi, ii and iv
Ci, iii and iv
Dii, iii and iv
View Explanation & Discuss
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