Waec Insurance 2016 Past Questions and Answers

Question 36:

• WAEC 2016

To insure any property, the insured must have

A. Insurable interest
B. Goodwill
C. Premium
D. Valuable consideration

Question 37:

• WAEC 2016

A motor policy that provides cover for the loss or damage of a vehicle used for farming purposes is

A. Private car policy
B. Agricultural policy
C. Special type policy
D. Motor trades policy

Question 38:

• WAEC 2016

one of the difference between contract of life assurance and non life insurance is?

A. Non-life requires renewal while life does not
B. Life requires renewal while non-life does not
C. Life is subject to indemnity while non life is not
D. Non-life is subject to compensation while life is not

Question 39:

• WAEC 2016

The duty of a loss assessor is to ensure

A. Adequate compensation to the insured
B. Payment of premium to the insurer
C. That risk manager identifies the risk properly
D. That insurance broker collects commission

Question 40:

• WAEC 2016

which of the following benefits will be covered under personal accident insurance

A. Burial expenses
B. Medical expenses
C. Legal expenses
D. Mortuary expenses