Waec Insurance 2017 Past Questions and Answers

Question 26:

• WAEC 2017

An insurance intermediary that is professionally liable for acts of negligence in the discharge of his duties to his client is an insurance

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

Question 27:

• WAEC 2017

life insurance is a contract of?

A. Indemnity
B. Subrogation
C. Benefit
D. Contribution

Question 28:

• WAEC 2017

In an endowment policy, benefits are paid at death or

A. A lump sum is paid on maturity
B. Regular payments are made after maturity
C. Regular payments are made before maturity
D. No payments is made until the death of the insured.

Question 29:

• WAEC 2017

The part of the policy that describes the event that could lead to loss in an insurance contract is

A. Recital clause
B. Condition
C. Specification
D. Operative clause

Question 30:

• WAEC 2017

Insurance is defined as pooling of risk because many people

A. With common interest make claims every year
B. With common risk insure with the same company
C. With common interest insure with reinsurance company
D. Form common association to help themselves