Insurance Past Questions and Answers

Question 26 :

• WAEC 2018

concealment of information considered to be material to the contract of insurance is violating the principle of?

A. Subrogation
B. Indemnity
C. Insurable interest
D. Utmost good faith

Question 27 :

• WAEC 2018

Extension cover under money insurance policy doesnt include?

A. Shortage
B. Hold-up
C. Personal injury
D. Damaged to safe

Question 28 :

• WAEC 2018

The form of term assurance that operates three options which must be excised before maturity is

A. Decreasing term insurance
B. Increasing term insurance
C. Level term insurance
D. Convertible term insurance

Question 29 :

• WAEC 2018

A condition precedent to an insurance contract is the

A. Extent of the cover granted
B. Right to cancel the insurance contract
C. Right to take possession of damaged property
D. Existence of the subject matter of insurance

Question 30 :

• WAEC 2018

Addition of a new building to an existing fire and special perils insurance would be effected through the issuance of?

A. A new policy
B. An endorsement
C. A specification
D. A rectification