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Insurance Past Questions and Answers

Waec Insurance Questions

Question 101:

A life insurance contract will be affected by failure to disclose?

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A Correct address
B Status of assured
C Place of work
D Correct date of birth

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Question 102:

Hazard in insurance means?

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A A situation that posses a threat to life or property
B A situation where there is no agreement
C Event that cannot legally be insured
D Event that has been insured in the past

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Question 103:

the sum assured is the value of the?

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A Claim
B Policy
C Premium
D Penalty

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Question 104:

The principle of insurance that demands that the insured must stand to loss in the event of a loss before taking a policy is

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A Consideration
B Insurable interest
C Proximate cause
D Subrogation

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Question 105:

A guarantee issue by an insurance company to support their client who is applying for a contract is

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A Performance bond
B Bid bond
C Retention bond
D Advance payment bond

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