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.

48 questions JAMB 1 WAEC 143 CUSTOM 1
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Past Questions

48 questions
Question 1 of 20 48 total questions
Question 11
waec 2018

The winding up of an insurance is legally required to be based on a petition written from not less than 

A30 policy holders
B40 policy holders
C50 policy holder
D60policy holders
View Explanation & Discuss
Question 12
waec 2018

contract of insurance which involves large industrial risks are handled for protection through the completion of?

Aa proposal form
Ba policy form
Can endorsement
Da slip
View Explanation & Discuss
Question 13
waec 2018

The document used pending the issuance of certificate in motor insurance policy is

Aa cover note
Ba proposal form
Can endorsement
Da slip
View Explanation & Discuss
Question 14
waec 2018

The form of term assurance that operates three options which must be excised before maturity is

Adecreasing term insurance
Bincreasing term insurance
Clevel term insurance
Dconvertible term insurance
View Explanation & Discuss
Question 15
waec 2018

Extension cover under money insurance policy doesnt include?

Ashortage
Bhold-up
Cpersonal injury
Ddamaged to safe
View Explanation & Discuss
Question 16
waec 2018

concealment of information considered to be material to the contract of insurance is violating the principle of?

Asubrogation
Bindemnity
Cinsurable interest
Dutmost good faith
View Explanation & Discuss
Question 17
waec 2018

one benefit of life insurance policy is that it serves as 

Areplacement of earnings after injuries
Bprovision for bad debts
Ccollateral for loans
Drepair cost of damaged properties
View Explanation & Discuss
Question 18
waec 2018

A claimant who is not legally entitled to a claim under an insurance contract may be offered a payment on?

Aconstructive total loss basis
Bpartial loss basis
Cadvice of loss basis
Dex-gratia basis
View Explanation & Discuss
Question 19
waec 2018

The class of insurance under which a visitor who was bitten by her host dog would be compensated is?

Apersonal liability insurance
Bpublic liability insurance
Cprofessional indemnity insurance
Demployers liability insurance
View Explanation & Discuss
Question 20
waec 2018

The minimum cover for motorist in nigeria is?

A''Act'' only
Bthird party only
Cfire and theft
Dcomprehensive insurance
View Explanation & Discuss
Question 21
waec 2018

claims paid by insurers in the event of loss is irrecoverable when the?

Aaverage clause is applied
Bsum insured has been exhausted
Csum insured has not been exhausted
Dpayment is and ex gratia basis
View Explanation & Discuss
Question 22
waec 2018

Addition of a new building to an existing fire and special perils insurance would be effected through the issuance of?

Aa new policy
Ban endorsement
Ca specification
Da rectification
View Explanation & Discuss
Question 23
waec 2018

A condition precedent to an insurance contract is the

Aextent of the cover granted
Bright to cancel the insurance contract
Cright to take possession of damaged property
Dexistence of the subject matter of insurance
View Explanation & Discuss
Question 24
waec 2018

The right to effect a contract of insurance on the life of a debtor by the creditor is?

Autmost good faith
Bproximate cause
Cinsurable interest
Dcontribution
View Explanation & Discuss
Question 25
waec 2018

The method of paying premium in life insurance contract in which premium payable increases as age increases is?

Anatural premium
Blevel premium
Crisk premium
Dpure premium
View Explanation & Discuss
Question 26
waec 2018

The use of gas burners for cutting and welding is considered in insurance contract as

Aa favourable morale hazard
Ba favourable physical hazard
Can unfavourable morale hazard
Dan unfavourable physical hazard
View Explanation & Discuss
Question 27
waec 2018

modern insurance business was introduced into nigeria by?

AAmerican merchants
BBritish merchants
CFrench merchants
DPortuguese merchants
View Explanation & Discuss
Question 28
waec 2018

The legth of time in which a proposer is expected to effect changes in life insurance contract is?

Adays of grace
Bcooling off period
Crectification
Dendorsement
View Explanation & Discuss
Question 29
waec 2018

One of the functions of the institute of loss adjuster of Nigeria is to

Aprovide a forum to improve insurance business
Bprepare the insured's claims
Coffer technical services in claim investigation
Dadjust loss to suit the insured
View Explanation & Discuss
Question 30
waec 2018

An insured arranges for his premium payment to cease at the age of 70. This is a whole life policy with 

Aindeterminate premium payment
Blimited premium payment
Csingle premium payment
Dmodified premium payment
View Explanation & Discuss
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