Waec Insurance Past Questions
Question 21
The form of term assurance that operates three options which must be excised before maturity is
- A. decreasing term insurance
- B. increasing term insurance
- C. level term insurance
- D. convertible term insurance
Question 22
Extension cover under money insurance policy doesnt include?
- A. shortage
- B. hold-up
- C. personal injury
- D. damaged to safe
Question 23
concealment of information considered to be material to the contract of insurance is violating the principle of?
- A. subrogation
- B. indemnity
- C. insurable interest
- D. utmost good faith
Question 24
one benefit of life insurance policy is that it serves as
- A. replacement of earnings after injuries
- B. provision for bad debts
- C. collateral for loans
- D. repair cost of damaged properties
Question 25
A claimant who is not legally entitled to a claim under an insurance contract may be offered a payment on?
- A. constructive total loss basis
- B. partial loss basis
- C. advice of loss basis
- D. ex-gratia basis
