Waec Insurance 2016 Past Questions and Answers

Question 26:

• WAEC 2016

The responsibility of the institute of loss adjuster is to?

A. Regulate the activities of its members
B. Settle disputes among insurance companies
C. Register all insurance practitioners
D. Act as intermediaries between government and its members

Question 27:

• WAEC 2016

The process of transfering a risk already taken by an insurer to other insurers is?

A. Assurance
B. Re-investment
C. Reinsurance
D. Insurance

Question 28:

• WAEC 2016

In motor insurance, which of the following covers will take care of all parties that can be involded in an accident

A. Comprehensive
B. Act only
C. Third party
D. Third party, fire and theft

Question 29:

• WAEC 2016

A class of insurance that covers policy holders for losses caused by fruadulent employees is?

A. All risk policy
B. Key-man policy
C. Fidelity guarantee policy
D. Money insurance policy

Question 30:

• WAEC 2016

which class of insurance would be required by a petrol filling station operator whose operation involve high financial transactions?

A. Burglary policy
B. Public liability policy
C. Goods-in-transit policy
D. Money policy