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 8 48 total questions
Question 21
waec 2018

Marine cargo insurance indemnifies the insured for a loss of?

Avessel
Bcontainer
Cconsignment
Dfreight
View Explanation & Discuss
Question 22
waec 2018

insurer XYZ is jointly covered for two lines surplus treaty reinsurance by reinsurers I,J,K and L for a retention limit of N120,000. The amount of cession for reinsurer K if all reinsurers share the risk equally with the sum insured of N360,000 is?

AN45,000
BN60,000
CN90,000
DN120,000
View Explanation & Discuss
Question 23
waec 2018

Non-indemnity insurance policies are referred to as

Abenefit policies
Bprofit policies
Cnon-profit policies
Dnon-benefit policies
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Question 24
waec 2018

A risk considered as sub standard in future can be dealt with by insurers through

(i) premium loading (ii) double insurance (iii) excess imposition

AI and II
BI and III
CII and III
DI,II and III
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Question 25
waec 2018

one of the steps taken by an insurer in claim settlement is to?

Ainvestigate the loss
Bassess the risk
Cpresent a claim
Dappoint loss assessor
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Question 26
waec 2018

full return of premium paid for a contract of insurance is applicable in a situation involving?

Adouble insurance
Breduction of cover
Cabsence of agreement
Dfinancial distress
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Question 27
waec 2018

The financial interest of the insured in an insurance policy is the

Asubject matter of insurance
Bsubject matter of the contract
Cassignment of the contract
Ddeed of the contract
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Question 28
waec 2018

A document issued by an insurer giving temporary protection to the insure is?

Aendorsement
Bcertificate
Cproposal form
Dcover note
View Explanation & Discuss
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