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Principles of insurance - Jamb Commerce Past Questions and Answers

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Jamb Commerce Past Questions

Jamb Past Questions and Answers on Principles of insurance

Question 16:


The insurance principle that requires full disclosure of information on the insured is known as ?

A. Indemnity
B. Caveat emptor
C. Subrogation
D. Uberrimae Fidel


Question 17:


A document that embody the conditions and exceptions attached to the contract is

A. Proposal form
B. Cover note
C. The policy
D. Insurance certificate


Question 18:


NAME INSUREDAMOUNT(₦) ACTUALVALUE(₦) ACTUALLOSS(₦)
Mr. PMr. KMr. R 25,00030,00040,000 100,000120,000150,000 30,00040,00050,000



What insurance principle has Mr. R violated if he decides to overstate the actual value of his property?

A. Insurable interest
B. Uberrimae fidei
C. Subrogation
D. Indemnity






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