WAEC SSCE - Insurance - 2016 (Objective)

mr. Thomas assured his life for the sum of N300,000.00 for a period of 20 years. The premium payable being N2,200.00 monthly.due to loss of employment, thomas was not able to pay the premium in the last 3 months .

what is the term for the period he will be allowed to reinstate the contract

The body charged with the responsibility to promote and uphold universally accepted standards in insurance business

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

features of insurable risk include?

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

Risk assumed by more than one insurance company and shared accordingly

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

Ex-gratia payment is made where there is

A profefessional charged with the responsibility of assessing loss in insurance

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

An event sufficiently related to a legally recognizable injury to be the cause of that injury is?

mr. Thomas assured his life for the sum of N300,000.00 for a period of 20 years. The premium payable being N2,200.00 monthly.due to loss of employment, thomas was not able to pay the premium in the last 3 months .

what is the sum assured for the policy

the sum assured is the value of the?

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

An insurer will recover claims paid wrongly to an insured if

Mr Aderemi owns a car which was insured under comprehensive policy. while insuring the car, he did not inform the company that his wife who have no driving licence also drives the car.  the wife while driving the car, came face to face with rioters who damaged the car.

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

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

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

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

A life policy where the insured cannot make claim himself because the payment cannot be made in his life time is

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

mr. Thomas assured his life for the sum of N300,000.00 for a period of 20 years. The premium payable being N2,200.00 monthly.due to loss of employment, thomas was not able to pay the premium in the last 3 months .

what is the term used for the amount payable to mr. Thomas if he chooses to discontinue with the contract

To insure any property, the insured must have

The responsibility of the institute of loss adjuster is to?

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

when a policy is cancelled before its expiry date, what is owed to the insured is

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

peril in insurance means

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

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

The duty of a loss assessor is to ensure

A blanket policy in fidelity guarantee insurance is to cover

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

Hazard in insurance means?

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

The person named to recieve the life assurance proceeds after the date of the life assured is?

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

An attachment to an insurance policy that modifies the policy is?

Mr Aderemi owns a car which was insured under comprehensive policy. while insuring the car, he did not inform the company that his wife who have no driving licence also drives the car.  the wife while driving the car, came face to face with rioters who damaged the car.

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

surrender value is the amount payable if the insured

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

Mr Aderemi owns a car which was insured under comprehensive policy. while insuring the car, he did not inform the company that his wife who have no driving licence also drives the car.  the wife while driving the car, came face to face with rioters who damaged the car.

what is the proximage cause of the damage to the car

which of the following professionals assist in determining the actual cost of a loss to be paid by an insurer on a claim

which of the following benefits will be covered under personal accident insurance

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

A term insurance policy is cheap because?

A risk classified is uninsurable when the

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

The policy taken to cover loss of income that a business suffers when its facilities are closed due to a disaster is

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

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