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Wednesday, 15 April 2026
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Insurance Past Questions and Answers

Insurance Questions

Question 11:
payment of compensation under professional indemnity insurance would be influenced by?
  • A Assault
  • B Trespass
  • C Nuisance
  • D Negligence
View Answer & Explanation
Question 12:
car plying the road seeking passengers for payment of fares are classified by insurers as?
  • A Private motor
  • B Commercial vehicle
  • C Motor trade
  • D General cartage
View Answer & Explanation
Question 13:
musa lent obinna the sum of N2,000,000 i february 2015 which he promised to pay back at the end of the year.. musa decided to effect a life policy on obinna for a sum of N20,000


The subject matter of insurance in the package is?
  • A Obinna's life
  • B The N2,000,000 loan
  • C Musa's life
  • D The sum assured of N20,000
View Answer & Explanation
Question 14:
An insurance policy is subject to a franchise of N115,000, how much would an insured who suffered of N120,000 recieve as compwnsation
  • A N5,000
  • B N115,000
  • C N120,000
  • D N235,000
View Answer & Explanation
Question 15:
The insurance professional who assist the third party to evaluate the extent of loss in a motor accident is
  • A A loss adjustor
  • B A loss assessor
  • C A consultant
  • D An investigator
View Answer & Explanation