Insurance - Jamb Commerce Past Questions and Answers

Question 31:

• JAMB 2005

A floating policy is an example of?

A. Marine insurance
B. Actuaries insurance
C. Motor insurance
D. Fire insurance

Question 32:

• JAMB 2005

The most important benefit of insurance is that it provides?

A. Control over activities
B. The insured with a right to premium
C. The insured with a right to full compensation
D. Protection against risks

Question 33:

• JAMB 2005

The compensation the insured gets depends heavily on the?

A. Economic situation
B. Premium paid
C. Risk suffered
D. Insurer's bouyancy

Question 34:

• JAMB 2006

An employer insures against his employees' dishonesty by taking up?

A. Fidelity guarantee insurance
B. Accident insurance
C. Group life assurance
D. Endowment policy

Question 35:

• JAMB 2006

Payment made to the insured by the insurer outside its legal obligation is?

A. Premium paid
B. Ex gratia payment
C. Surrender value
D. Sum assured