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Insurance 2016 WAEC Past Questions

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26

Risk assumed by more than one insurance company and shared accordingly

  • A. co-insurance
  • B. joint insurance
  • C. re-insurance
  • D. group insurance
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27

An insurance cover that protects experts from bearing the cost of negligence arising from their service?

  • A. fidelity guarantee insurance
  • B. third party liability insurance
  • C. professional indemnity insurance
  • D. product liability insurance
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28

which of the following policies can be used as security for a loan.

  • A. key-man policy
  • B. endowment policy
  • C. term insurance policy
  • D. whole life insurance
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Mr Aderemi owns a car which was insured under comprehensive policy. while insuring the car, he did not inform the company that his wife who have no driving licence also drives the car.  the wife while driving the car, came face to face with rioters who damaged the car.

29

the insurance prinsiple that deals with mr adeyem's failure to inform the insurer about his wife's usage of the car is?

  • A. negligence
  • B. misrepresentation
  • C. untrue statement
  • D. utmost good faith
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30

what is the effect of the damage by rioters as regards the claim. he will?

  • A. not get anything
  • B. be paid half
  • C. get money from rioters
  • D. be paid in full
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208