Insurance Past Questions and Answers

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:

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:

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:

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:

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