Insurance - Jamb Commerce Past Questions and Answers

Question 56:

• JAMB 2015

The major determinant of fire insurance premium is the

A. Owner of the property
B. Usefulness of the property to the owner
C. Type and structure of the property to be insured
D. Extent of fire damaged anticipated.

Question 57:

• JAMB 2015

The principle of subrogation stated that

A. An insured person should be indemnified to the time of the amount insured
B. An insurance company constant in lace of the insured in dealing with third party.
C. Only a person who is likely to suffer loss hold take out an insurance cover
D. There must be accuse connection between the actual loss suffered and risk insure

Question 58:

• JAMB 2018

The two main categories under which marine losses fall into are

A. Total loss and partial loss
B. Voyage policy loss and time policy loss
C. Particular loss and average loss
D. Actual loss and general loss

Question 59:

• JAMB 2018

One of the principles of insurance is

A. Proximate cause
B. Fidelity guarantee
C. Consequential loss
D. Surrender value

Question 60:

• JAMB 2018

What’s the first form an applicant must complete before taking an insurance policy?

A. Cover note
B. Advice note
C. Proposal form
D. Certificate of insurance