Principles of insurance - Jamb Commerce Past Questions and Answers

Question 11:

• JAMB 2009

The principle of insurance which entitles an insurance company to take any advantage due to the insured after full indemnity is?

A. Contribution
B. Subrogation
C. Promiate cause
D. Utmost good faith

Question 12:

• JAMB 2012

The right of an insurance company to stand in place of an insured against a third party , who is liable for the occurrence of a loss, is the principle of

A. Proximate cause
B. Insurable interest
C. Insurance priority
D. Subrogation

Question 13:

• JAMB 2014

The principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is

A. Subrogation
B. Proximate cause
C. Uberrimae fidei
D. Contribution

Question 14:

• JAMB 2014

The insurance principle that allows an insurance company to take over the rights of the insured once he has been compensated is

A. Indemnity
B. Proximate cause
C. Utmost good faith
D. Subrogation

Question 15:

• JAMB 2018

One of the principles of insurance is

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