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Waec Insurance 2018 Past Questions and Answers

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Waec 2018 Insurance Past Questions

Question 36:


The use of gas burners for cutting and welding is considered in insurance contract as

A. A favourable morale hazard
B. A favourable physical hazard
C. An unfavourable morale hazard
D. An unfavourable physical hazard


Question 37:


The method of paying premium in life insurance contract in which premium payable increases as age increases is?

A. Natural premium
B. Level premium
C. Risk premium
D. Pure premium


Question 38:


The right to effect a contract of insurance on the life of a debtor by the creditor is?

A. Utmost good faith
B. Proximate cause
C. Insurable interest
D. Contribution


Question 39:


Non-indemnity insurance policies are referred to as

A. Benefit policies
B. Profit policies
C. Non-profit policies
D. Non-benefit policies


Question 40:


insurer XYZ is jointly covered for two lines surplus treaty reinsurance by reinsurers I,J,K and L for a retention limit of N120,000. The amount of cession for reinsurer K if all reinsurers share the risk equally with the sum insured of N360,000 is?

A. N45,000
B. N60,000
C. N90,000
D. N120,000






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