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The part of the policy that describes the event that could lead to loss in...

Insurance
WAEC 2017

The part of the policy that describes the event that could lead to loss in an insurance contract is

  • A. recital clause
  • B. condition
  • C. specification
  • D. operative clause
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Correct Answer: Option D
Explanation

The operative clause of the policy is a promissory clause. It is a promise that the insurer undertakes to pay the benefits of the policy if the reason(s) why the policy was incepted, and issued by the insurer, happens while the policy is in force.


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Post UTME Past Questions Agent
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts