Waec Insurance Past Questions
Question 6
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 7
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 8
Marine cargo insurance indemnifies the insured for a loss of?
- A. vessel
- B. container
- C. consignment
- D. freight
Question 9
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
Question 10
Non-indemnity insurance policies are referred to as
- A. benefit policies
- B. profit policies
- C. non-profit policies
- D. non-benefit policies
