Question 101:

• WAEC 2016

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

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

Question 102:

• WAEC 2016

Hazard in insurance means?

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

Question 103:

• WAEC 2016

the sum assured is the value of the?

A. Claim
B. Policy
C. Premium
D. Penalty

Question 104:

• WAEC 2016

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

A. Consideration
B. Insurable interest
C. Proximate cause
D. Subrogation

Question 105:

• WAEC 2016

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

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