Insurance Past Questions and Answers

Question 21 :

• WAEC 2018

The winding up of an insurance is legally required to be based on a petition written from not less than

A. 30 policy holders
B. 40 policy holders
C. 50 policy holder
D. 60policy holders

Question 22 :

• WAEC 2018

insurers requesting for membership of Nigeria Insurers Association is required by law to?
(i) have been registered with NAICOM (
ii)operate with sound insurance principles
(iii) hold membership of CHN
(iv) ascribe to the policy holding of NIA

A. I, ii and iii only
B. I, ii and iv
C. I, iii and iv
D. Ii, iii and iv

Question 23 :

• WAEC 2018

A general question in an insurance proposal form is

A. Name of the proposal
B. Carriage of fare-paying passenger
C. Description of the proposers' premises
D. Methods of construction

Question 24 :

• WAEC 2018

A claimant who is not legally entitled to a claim under an insurance contract may be offered a payment on?

A. Constructive total loss basis
B. Partial loss basis
C. Advice of loss basis
D. Ex-gratia basis

Question 25 :

• WAEC 2018

one benefit of life insurance policy is that it serves as

A. Replacement of earnings after injuries
B. Provision for bad debts
C. Collateral for loans
D. Repair cost of damaged properties