Insurance Past Questions

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45 questions JAMB 1 WAEC 143 CUSTOM 1
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Past Questions

45 questions
Question 1 of 20 45 total questions
Question 11
waec 2017

The person that buys a life insurance policy is an 

Aactuary
Bassured
Cassesor
Dagent
View Explanation & Discuss
Question 12
waec 2017

How many days are allowed in life insurance as days of grace

A25 days
B30 days
C35 days
D60
View Explanation & Discuss
Question 13
waec 2017

The class of insurance that does not require a certificate is?

Amotor insurance
Bmarine insurance
Cfire insurance
Daviation insurance
View Explanation & Discuss
Question 14
waec 2017

The document that is legally required to be issued by insurers in respect of compulsory insurance is

Acover note
Bendorsement
Ccertificate
Drenewal note
View Explanation & Discuss
Question 15
waec 2017

The policy of insurance is signed by the?

Arepresentative of the insured
Brepresentative of the insurer
Cinsurance broker
Dinsurance consultant
View Explanation & Discuss
Question 16
waec 2017

Insurance is defined as pooling of risk because many people 

Awith common interest make claims every year
Bwith common risk insure with the same company
Cwith common interest insure with reinsurance company
Dform common association to help themselves
View Explanation & Discuss
Question 17
waec 2017

The part of the policy that describes the event that could lead to loss in an insurance contract is

Arecital clause
Bcondition
Cspecification
Doperative clause
View Explanation & Discuss
Question 18
waec 2017

In an endowment policy, benefits are paid at death or 

Aa lump sum is paid on maturity
Bregular payments are made after maturity
Cregular payments are made before maturity
Dno payments is made until the death of the insured.
View Explanation & Discuss
Question 19
waec 2017

life insurance is a contract of?

Aindemnity
Bsubrogation
Cbenefit
Dcontribution
View Explanation & Discuss
Question 20
waec 2017

An insurance intermediary that is professionally liable for acts of negligence in the discharge of his duties to his client is an insurance

Aagent
Bbroker
Cconsultant
Dunderwriter
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Question 21
waec 2017

Term insurance benefits are payable 

Aat surrender
Bat death
Cbefore maturity
D
View Explanation & Discuss
Question 22
waec 2017

The demand for payment made by the insured to the insurer following occurence of the event insured against is

Aconsideration
Bgratification
Ccommission
Dclaim
View Explanation & Discuss
Question 23
waec 2017

The period of insurance in non-life insurance contract is usually

Aone month
Bone year
Ctwo years
Dthree years
View Explanation & Discuss
Question 24
waec 2017

The price paid for the purchase of insurance policy is?

Apremium
Bclaim
Crenewal
Dbenefit
View Explanation & Discuss
Question 25
waec 2017

one of the feature of ''with profit whole life assurance'' is that profit is allocated to the policy?

Aas soon as the policy holder dies
Bup to the date of death of the policyholder
Cwhen the insurer decides to pay the policyholder
Das soon as the insured surrenders the policy
View Explanation & Discuss
Question 26
waec 2017

A primary function of insurance is the?

Acreation of a common pool
Bprovision of security
Cstimulation of business enterprises
Dloss prevention and control
View Explanation & Discuss
Question 27
waec 2017

The principle of utmost good faith allows the insured 

Ato accept all risks proposed for insurance
Bthe right to sue the insurer
Cto make claim from more than one insurer
Dto make a full disclosure of the proposed risk
View Explanation & Discuss
Question 28
waec 2017

The reason for issuing certificate of motor insurance is that , it is

Arequired by law for all motor policy holders
Ba general practice world wide
Ca support to policy document
Da replacement for the policy
View Explanation & Discuss
Question 29
waec 2017

information required in a proposal form for employer's liability is insurance include

Aage and health condition of the employees
Bthe number of employees and the annual wage roll of the proposer
Cnature and description of goods to be carried or dispatched
Dthe extent to which the vehicle of the proposer will be put to private use
View Explanation & Discuss
Question 30
waec 2017

which type of insurance product is appropriate for a young couple who is embarking on a holiday trip abroad?

Awhole life policy
Binvestment linked policy
Ceducation endowment policy
Dterm assurance policy
View Explanation & Discuss
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