Waec Insurance Past Questions and Answers

Question 51:

• 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 52:

• 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 53:

• 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

Question 54:

• 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 policy cover with musa insurance is

A. Averagely insured
B. Fully insured
C. Under insured
D. Over insured

Question 55:

• WAEC 2017

The insurance cover a businessman who buys goods from lagos and wants to transport it to kano would require is

A. Marine insurance
B. Business interruption insurance
C. Theft insurance
D. Goods in transit insurance