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Insurance 2016 WAEC Past Questions

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21

A component of an insurance policy document that introduces the parties to the contract is,

  • A. exceptional clause
  • B. recital clause
  • C. particular clause
  • D. operative clause
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22

The responsibility of the institute of loss adjuster is to?

  • A. regulate the activities of its members
  • B. settle disputes among insurance companies
  • C. register all insurance practitioners
  • D. act as intermediaries between government and its members
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23

The process of transfering a risk already taken by an insurer to other insurers is?

  • A. assurance
  • B. re-investment
  • C. reinsurance
  • D. insurance
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24

In motor insurance, which of the following covers will take care of all parties that can be involded in an accident

  • A. comprehensive
  • B. Act only
  • C. third party
  • D. third party, fire and theft
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25

A class of insurance that covers policy holders for losses caused by fruadulent employees is?

  • A. all risk policy
  • B. key-man policy
  • C. fidelity guarantee policy
  • D. money insurance policy
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