Search SchoolNGR

Wednesday, 22 April 2026
Register . Login

Insurance Past Questions and Answers

Insurance Questions

Question 96:
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
  • A Premium return
  • B Reinstatement return
  • C Terminal claim
  • D Surrender value
View Answer & Explanation
Question 97:
A life policy where the insured cannot make claim himself because the payment cannot be made in his life time is
  • A Whole life policy
  • B Annuity policy
  • C Key-man policy
  • D Endowment policy
View Answer & Explanation
Question 98:
The policy taken to cover loss of income that a business suffers when its facilities are closed due to a disaster is
  • A Group insurance
  • B Business support
  • C Fire insurance
  • D Business interruption
View Answer & Explanation
Question 99:
To assess aviation risks, the underwriter would want to know the
  • A Size of the airport
  • B Financial capacity of the airline
  • C Age of the aircraft
  • D Staff strength of the airline
View Answer & Explanation
Question 100:
A document used to provide evidence of insurance if the policy document is not imediately available is
  • A Certificate
  • B Cover note
  • C Proposal form
  • D Endorsement
View Answer & Explanation