Waec Insurance Past Questions and Answers

Question 1:

• WAEC 2018

jaguna's repaired expenses of N75,000 would be paid by

A. Jaguna's insurer
B. Jaguna
C. Basanya's insurer
D. Basanya

Question 2:

• WAEC 2018

use the following information to answer the question below.

Basanya's vehicle was hit at the rear by jaguna's vehicle. The two vehicles had a minimum cover. estimate of repairs were as follows;

Basanya's vehicle - N155,000; jaguna's vehicle- N75,000


The compensation would be calculated as

A. N75,000 payable to jaguna
B. N80,000 payable to jaguna
C. N155,000 payable to basanya
D. N230,000 payable to basanya

Question 3:

• WAEC 2018

use the following information to answer the question below.

Basanya's vehicle was hit at the rear by jaguna's vehicle. The two vehicles had a minimum cover. estimate of repairs were as follows;

Basanya's vehicle - N155,000; jaguna's vehicle- N75,000


The effect of the minimum cover on the two vehicles is the the?

A. Two vehicles will be repaired by jaguna's insurer
B. Insurer of each vehicle is responsible for the repairs
C. Vehicle of Basanya will be repaired by jaguna's insurer
D. Two vehicles are not entitled to compensation from the insurer

Question 4:

• WAEC 2018

musa lent obinna the sum of N2,000,000 i february 2015 which he promised to pay back at the end of the year.. musa decided to effect a life policy on obinna for a sum of N20,000


The peril insured against by musa is

A. The loan
B. Death
C. Bad debt
D. Disability

Question 5:

• WAEC 2018

one of the duties of a loss adjustor is

A. Advice the claimant on claims processing
B. Ensure prompt payment of claims
C. Estimate maximum loss
D. Investigate the cause of loss