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Tuesday, 21 April 2026
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Insurance Past Questions and Answers

Waec Insurance Questions

Question 61:
which of the following professionals is an operator in the reinsurance market?
  • A Agent
  • B Consultant
  • C Broker
  • D Adjuster
View Answer & Explanation
Question 62:
The part of a policy that describes the event that led to a loss is
  • A Operative clause
  • B Recital clause
  • C Heading
  • D Schedule
View Answer & Explanation
Question 63:
The type of life insurance policy where the premium goes towards the policy with no interest element is
  • A Endowment policy
  • B Whole life insurance
  • C Annuity policy
  • D Term insurance
View Answer & Explanation
Question 64:
The body that regulates the activities of insurance market in Nigeria
  • A National Insurance Commission
  • B Professional reinsurance association of nigeria
  • C Nigeria insurers Association
  • D Nigeria council of registered insurance brokers
View Answer & Explanation
Question 65:
Life policies can be used as a collateral for loan when the policy has?
  • A Ceased to be life
  • B Been temporary suspended
  • C Acquired surrender value
  • D Been made paid-up
View Answer & Explanation