Waec Insurance 2017 Past Questions and Answers

Question 1:

• WAEC 2017

Eke bought a new car for N1.5M. The practice in the insurance idustry is to pay 10% of the value of the vehicle as premium for comprehensive cover and 2.5% additional cover for strike, riot and civil commotion. Eke was issued a document and two weeks later, he was issued another document different from the first document issued


What is the premium payable for the comprehensive cover

A. N37,000
B. N150,000
C. N155,000
D. N187,500

Question 2:

• WAEC 2017

Eke bought a new car for N1.5M. The practice in the insurance idustry is to pay 10% of the value of the vehicle as premium for comprehensive cover and 2.5% additional cover for strike, riot and civil commotion. Eke was issued a document and two weeks later, he was issued another document different from the first document issued


The document issued to Eke within one week of the contract is

A. Cover note
B. Proposal form
C. Satisfaction note
D. Renewal notice

Question 3:

• WAEC 2017

Eke bought a new car for N1.5M. The practice in the insurance idustry is to pay 10% of the value of the vehicle as premium for comprehensive cover and 2.5% additional cover for strike, riot and civil commotion. Eke was issued a document and two weeks later, he was issued another document different from the first document issued

The second document issued to the Eke is

A. Satisfaction note
B. Renewal notice
C. Proposal form
D. Certificate of insurance

Question 4:

• WAEC 2017

Adekunle bought a car for N2,000,000. he insured it with musa insurance company and okon insurance company for N600,000 and N800,000 respectively. on his way to his office, he had an accident which destroyed his windscreen valued at N30,000 and kayode's shop valued at N15,000.


The maximum aount to be paid for kayode's shop that was damged is

A. N15,000
B. N30,000
C. N45,000
D. N60,000

Question 5:

• WAEC 2017

Adekunle bought a car for N2,000,000. he insured it with musa insurance company and okon insurance company for N600,000 and N800,000 respectively. on his way to his office, he had an accident which destroyed his windscreen valued at N30,000 and kayode's shop valued at N15,000.


The claims on kayode's shop would be paid by

A. Musa and okon insurance company
B. Musa insurance company
C. Okon insurance company
D. Mr Adekunle only