Insurance 2017 Waec Past Questions and Answers

Question 11 :

• WAEC 2017

A life policy that pays the sum assured if the policy holder dies anytime within the policy period is

A. Term assurance
B. Pure endowment
C. Whole life insurance
D. Personal accident insurance

Question 12 :

• WAEC 2017

A policy that covers a trader against the risk of payment default by customer is

A. Stock insurance
B. Trade insurance
C. Fidelity insurance
D. Credit insurance

Question 13 :

• WAEC 2017

which of the following professionals is an operator in the reinsurance market?

A. Agent
B. Consultant
C. Broker
D. Adjuster

Question 14 :

• WAEC 2017

The part of a policy that describes the event that led to a loss is

A. Operative clause
B. Recital clause
C. Heading
D. Schedule

Question 15 :

• WAEC 2017

The type of life insurance policy where the premium goes towards the policy with no interest element is

A. Endowment policy
B. Whole life insurance
C. Annuity policy
D. Term insurance