Question 16:

• WAEC 2018

A reinsurance cover of N100,000 in excess of N20,000 was entered by insurer K with reinsurer M. In the event of a loss amounting to N120,000, M would pay?

A. N20,000
B. N120,000
C. N80,000
D. N100,000

Question 17:

• WAEC 2018

A loss assessor in a claim settlement process is representing the interest of the?

A. Insured
B. Insurer
C. Reinsurer
D. Broker

Question 18:

• WAEC 2018

one of the perils of nature is?

A. Heating
B. Earthquake
C. Civil commotion
D. Spontaneous combustion

Question 19:

• WAEC 2018

The document used pending the issuance of certificate in motor insurance policy is

A. A cover note
B. A proposal form
C. An endorsement
D. A slip

Question 20:

• WAEC 2018

contract of insurance which involves large industrial risks are handled for protection through the completion of?

A. A proposal form
B. A policy form
C. An endorsement
D. A slip