Waec Insurance 2017 Past Questions and Answers

Question 41:

• WAEC 2017

The right which an insurer has to stand in the place of the insured against a negligent party is?

A. Insurable interest
B. Subrogation
C. Proximate cause
D. Contribution

Question 42:

• WAEC 2017

A life policy holder enjoy days of grace

A. At the inception of the policy
B. At the renewal time of the policy
C. When he surrenders the policy
D. When the policy is paid up

Question 43:

• WAEC 2017

which of the following factors is not considered when calculating premium in life assurance policy

A. Expense
B. Mortality
C. Interest
D. Losses

Question 44:

• WAEC 2017

A functional reinsurance is that it

A. Protects the account of the insurer against large claims
B. Discourage the spread of risk in the insurance market
C. Provides protection for uninsured losses
D. Encourages the insured to make claims from more than one insurer

Question 45:

• WAEC 2017

A method of providing indemnity under glass insurance policy is?

A. Cash payment
B. Repairs
C. Replacement
D. Reinstatement