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Tuesday, 21 April 2026
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Insurance Past Questions and Answers

Insurance Questions

Question 76:
In an endowment policy, benefits are paid at death or
  • A A lump sum is paid on maturity
  • B Regular payments are made after maturity
  • C Regular payments are made before maturity
  • D No payments is made until the death of the insured.
View Answer & Explanation
Question 77:
The part of the policy that describes the event that could lead to loss in an insurance contract is
  • A Recital clause
  • B Condition
  • C Specification
  • D Operative clause
View Answer & Explanation
Question 78:
Insurance is defined as pooling of risk because many people
  • A With common interest make claims every year
  • B With common risk insure with the same company
  • C With common interest insure with reinsurance company
  • D Form common association to help themselves
View Answer & Explanation
Question 79:
one of the feature of ''with profit whole life assurance'' is that profit is allocated to the policy?
  • A As soon as the policy holder dies
  • B Up to the date of death of the policyholder
  • C When the insurer decides to pay the policyholder
  • D As soon as the insured surrenders the policy
View Answer & Explanation
Question 80:
The price paid for the purchase of insurance policy is?
  • A Premium
  • B Claim
  • C Renewal
  • D Benefit
View Answer & Explanation