Waec Insurance Past Questions and Answers

Question 41:

• WAEC 2018

Marine cargo insurance indemnifies the insured for a loss of?

A. Vessel
B. Container
C. Consignment
D. Freight

Question 42:

• WAEC 2018

An insured arranges for his premium payment to cease at the age of 70. This is a whole life policy with

A. Indeterminate premium payment
B. Limited premium payment
C. Single premium payment
D. Modified premium payment

Question 43:

• WAEC 2018

One of the functions of the institute of loss adjuster of Nigeria is to

A. Provide a forum to improve insurance business
B. Prepare the insured's claims
C. Offer technical services in claim investigation
D. Adjust loss to suit the insured

Question 44:

• WAEC 2018

A document issued by an insurer giving temporary protection to the insure is?

A. Endorsement
B. Certificate
C. Proposal form
D. Cover note

Question 45:

• WAEC 2018

The financial interest of the insured in an insurance policy is the

A. Subject matter of insurance
B. Subject matter of the contract
C. Assignment of the contract
D. Deed of the contract