Waec Insurance Past Questions For Year 2017
Question 6
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 7
which of the following factors is not considered when calculating premium in life assurance policy
- A. expense
- B. mortality
- C. interest
- D. losses
Question 8
The price paid for the purchase of insurance policy is?
- A. premium
- B. claim
- C. renewal
- D. benefit
Question 9
one of the feature of ''with profit whole life assurance'' is that profit is allocated to the policy?
- A. as soon as the policy holder dies
- B. up to the date of death of the policyholder
- C. when the insurer decides to pay the policyholder
- D. as soon as the insured surrenders the policy
Question 10
A primary function of insurance is the?
- A. creation of a common pool
- B. provision of security
- C. stimulation of business enterprises
- D. loss prevention and control
