Question 91:

• WAEC 2017

which of the following factors is not considered when calculating premium in life assurance policy

A. Expense
B. Mortality
C. Interest
D. Losses

Question 92:

• WAEC 2017

A functional reinsurance is that it

A. Protects the account of the insurer against large claims
B. Discourage the spread of risk in the insurance market
C. Provides protection for uninsured losses
D. Encourages the insured to make claims from more than one insurer

Question 93:

• WAEC 2017

A method of providing indemnity under glass insurance policy is?

A. Cash payment
B. Repairs
C. Replacement
D. Reinstatement

Question 94:

• WAEC 2016

mr. Thomas assured his life for the sum of N300,000.00 for a period of 20 years. The premium payable being N2,200.00 monthly.due to loss of employment, thomas was not able to pay the premium in the last 3 months .


what is the sum assured for the policy

A. N26,400
B. N44,000
C. N300,000
D. N528,000

Question 95:

• WAEC 2016

mr. Thomas assured his life for the sum of N300,000.00 for a period of 20 years. The premium payable being N2,200.00 monthly.due to loss of employment, thomas was not able to pay the premium in the last 3 months .


what is the term for the period he will be allowed to reinstate the contract

A. Cooling off period
B. Repayments
C. Days of grace
D. Lays days