Waec Insurance Past Questions
Question 11
The right to effect a contract of insurance on the life of a debtor by the creditor is?
- A. utmost good faith
- B. proximate cause
- C. insurable interest
- D. contribution
Question 12
The method of paying premium in life insurance contract in which premium payable increases as age increases is?
- A. natural premium
- B. level premium
- C. risk premium
- D. pure premium
Question 13
The use of gas burners for cutting and welding is considered in insurance contract as
- A. a favourable morale hazard
- B. a favourable physical hazard
- C. an unfavourable morale hazard
- D. an unfavourable physical hazard
Question 14
modern insurance business was introduced into nigeria by?
- A. American merchants
- B. British merchants
- C. French merchants
- D. Portuguese merchants
Question 15
The legth of time in which a proposer is expected to effect changes in life insurance contract is?
- A. days of grace
- B. cooling off period
- C. rectification
- D. endorsement
