Principles Of Insurance - Commerce Jamb Past Questions and Answers

Question 16 :

• JAMB 2018

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 :

• JAMB 2019

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 :

• JAMB 2021

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