Waec Insurance Past Questions
Question 131
Hazard in insurance means?
- A. a situation that posses a threat to life or property
- B. a situation where there is no agreement
- C. event that cannot legally be insured
- D. event that has been insured in the past
Question 132
the sum assured is the value of the?
- A. claim
- B. policy
- C. premium
- D. penalty
Question 133
Ex-gratia payment is made where there is
- A. no legal liability obligation
- B. legal liability obligation
- C. need to refund a premium
- D. delay in payment of compensation
Question 134
A document used to alter the information contained in the schedule of a policy is?
- A. slip
- B. endorsement
- C. cover note
- D. policy form
Question 135
features of insurable risk include?
(i) fortuity (ii) insurer (iii) utmost good faith (iv) financial value
- A. I and ii only
- B. ii and iii
- C. iii and iv
- D. I and iv only
