Insurance Past Questions

Study and practice Insurance past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.

50 questions JAMB 1 WAEC 143 CUSTOM 1
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Past Questions

50 questions
Question 1 of 20 50 total questions
Question 11
waec 2016

what is the effect of the damage by rioters as regards the claim. he will?

Anot get anything
Bbe paid half
Cget money from rioters
Dbe paid in full
View Explanation & Discuss
Question 12
waec 2016

the insurance prinsiple that deals with mr adeyem's failure to inform the insurer about his wife's usage of the car is?

Anegligence
Bmisrepresentation
Cuntrue statement
Dutmost good faith
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Question 13
waec 2016

which of the following policies can be used as security for a loan.

Akey-man policy
Bendowment policy
Cterm insurance policy
Dwhole life insurance
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Question 14
waec 2016

An insurance cover that protects experts from bearing the cost of negligence arising from their service?

Afidelity guarantee insurance
Bthird party liability insurance
Cprofessional indemnity insurance
Dproduct liability insurance
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Question 15
waec 2016

Risk assumed by more than one insurance company and shared accordingly

Aco-insurance
Bjoint insurance
Cre-insurance
Dgroup insurance
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Question 16
waec 2016

A class of insurance that covers policy holders for losses caused by fruadulent employees is?

Aall risk policy
Bkey-man policy
Cfidelity guarantee policy
Dmoney insurance policy
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Question 17
waec 2016

In motor insurance, which of the following covers will take care of all parties that can be involded in an accident

Acomprehensive
BAct only
Cthird party
Dthird party, fire and theft
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Question 18
waec 2016

The process of transfering a risk already taken by an insurer to other insurers is?

Aassurance
Bre-investment
Creinsurance
Dinsurance
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Question 19
waec 2016

The responsibility of the institute of loss adjuster is to?

Aregulate the activities of its members
Bsettle disputes among insurance companies
Cregister all insurance practitioners
Dact as intermediaries between government and its members
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Question 20
waec 2016

A component of an insurance policy document that introduces the parties to the contract is,

Aexceptional clause
Brecital clause
Cparticular clause
Doperative clause
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Question 21
waec 2016

A clause that prevents the insurer from paying under a policy if the insured killed himself is?

Aexceptional clause
Brevival clause
Caccidental clause
Dsuicide clause
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Question 22
waec 2016

A profefessional charged with the responsibility of assessing loss in insurance

Aunderwriter
Badjuster
Cactuary
Dbroker
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Question 23
waec 2016

A risk classified is uninsurable when the

Aextent of the loss can be calculated
Brisk will occur no matter the precaution taken
Crisk may not happen
Dinsurance company cannot pay
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Question 24
waec 2016

which of the following conditions must be met before and insurer is under obligation to pay claim

Aloss notification
Bpremium payment
Ccompletion of proposal form
Dsubmission of policy paper to the insurer
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Question 25
waec 2016

which class of insurance would be required by a petrol filling station operator whose operation involve high financial  transactions?

Aburglary policy
Bpublic liability policy
Cgoods-in-transit policy
Dmoney policy
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Question 26
waec 2016

The duty of a loss assessor is to ensure

Aadequate compensation to the insured
Bpayment of premium to the insurer
Cthat risk manager identifies the risk properly
Dthat insurance broker collects commission
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Question 27
waec 2016

one of the difference between contract of life assurance and non life insurance is?

Anon-life requires renewal while life does not
Blife requires renewal while non-life does not
Clife is subject to indemnity while non life is not
Dnon-life is subject to compensation while life is not
View Explanation & Discuss
Question 28
waec 2016

A motor policy that provides cover for the loss or damage of a vehicle used for farming purposes is

Aprivate car policy
Bagricultural policy
Cspecial type policy
Dmotor trades policy
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Question 29
waec 2016

To insure any property, the insured must have

Ainsurable interest
Bgoodwill
Cpremium
Dvaluable consideration
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Question 30
waec 2016

A ''no claim discount'' will be granted under 

Afidelity guarantee insurance
Bmarine insurance
Clife insurance
Dmotor insurance
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