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.

145 questions JAMB 1 WAEC 143 CUSTOM 1
Download PHP app Ask a Question Check Syllabus Past Question Videos Topic Video Lessons

Take a test

Past Questions

145 questions
Question 1 of 20 145 total questions
Question 51
waec 2016

To assess aviation risks, the underwriter would want to know the

Asize of the airport
Bfinancial capacity of the airline
Cage of the aircraft
Dstaff strength of the airline
View Explanation & Discuss
Question 52
waec 2016

A document used to provide evidence of insurance if the policy document is not imediately available is

Acertificate
Bcover note
Cproposal form
Dendorsement
View Explanation & Discuss
Question 53
waec 2016

A life insurance contract will be affected by failure to disclose?

Acorrect address
Bstatus of assured
Cplace of work
Dcorrect date of birth
View Explanation & Discuss
Question 54
waec 2016

Hazard in insurance means?

Aa situation that posses a threat to life or property
Ba situation where there is no agreement
Cevent that cannot legally be insured
Devent that has been insured in the past
View Explanation & Discuss
Question 55
waec 2016

the sum assured is the value of the?

Aclaim
Bpolicy
Cpremium
Dpenalty
View Explanation & Discuss
Question 56
waec 2016

Ex-gratia payment is made where there is

Ano legal liability obligation
Blegal liability obligation
Cneed to refund a premium
Ddelay in payment of compensation
View Explanation & Discuss
Question 57
waec 2016

A document used to alter the information contained in the schedule of a policy is?

Aslip
Bendorsement
Ccover note
Dpolicy form
View Explanation & Discuss
Question 58
waec 2016

features of insurable risk include?

(i) fortuity (ii) insurer (iii) utmost good faith (iv) financial value

AI and ii only
Bii and iii
Ciii and iv
DI and iv only
View Explanation & Discuss
Question 59
waec 2016

A guarantee issue by an insurance company to support their client who is applying for a contract is 

Aperformance bond
Bbid bond
Cretention bond
Dadvance payment bond
View Explanation & Discuss
Question 60
waec 2016

The principle of insurance that demands that the insured must stand to loss in the event of a loss before taking a policy is

Aconsideration
Binsurable interest
Cproximate cause
Dsubrogation
View Explanation & Discuss
Question 61
waec 2016

An insurer will recover claims paid wrongly to an insured if

Ait was ex-gratia payment
Bthere was a mistake of law
Cthe premium had not been paid
Dit was effected by court order
View Explanation & Discuss
Question 62
waec 2016

which of the following is a subject matter of insurance in fire policy

Abuilding
Bshares
Ccorporation
Dmoney
View Explanation & Discuss
Question 63
waec 2016

business interruption claims will only be settled if it is caused by?

Apermanent disability
Bmachinery breakdown
Csickness
Ddeath
View Explanation & Discuss
Question 64
waec 2016

surrender value is the amount payable if the insured

Adoes not want to continue with the life policy
Bdoes not want to continue with car insurance
Cdied when a policy is valid
Ddied when a policy is not valid
View Explanation & Discuss
Question 65
waec 2016

what is the proximage cause of the damage to the car

Amisrepresentation
Binexperienced driving
Criot
Dreckless driving
View Explanation & Discuss
Question 66
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 67
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
View Explanation & Discuss
Question 68
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
View Explanation & Discuss
Question 69
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
View Explanation & Discuss
Question 70
waec 2016

Risk assumed by more than one insurance company and shared accordingly

Aco-insurance
Bjoint insurance
Cre-insurance
Dgroup insurance
View Explanation & Discuss
Question Navigator
Current
MathsFaculty