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Insurance 2017 WAEC Past Questions

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6

which type of insurance product is appropriate for a young couple who is embarking on a holiday trip abroad?

  • A. whole life policy
  • B. investment linked policy
  • C. education endowment policy
  • D. term assurance policy
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7

information required in a proposal form for employer's liability is insurance include

  • A. age and health condition of the employees
  • B. the number of employees and the annual wage roll of the proposer
  • C. nature and description of goods to be carried or dispatched
  • D. the extent to which the vehicle of the proposer will be put to private use
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8

The reason for issuing certificate of motor insurance is that , it is

  • A. required by law for all motor policy holders
  • B. a general practice world wide
  • C. a support to policy document
  • D. a replacement for the policy
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9

The principle of utmost good faith allows the insured 

  • A. to accept all risks proposed for insurance
  • B. the right to sue the insurer
  • C. to make claim from more than one insurer
  • D. to make a full disclosure of the proposed risk
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10

A primary function of insurance is the?

  • A. creation of a common pool
  • B. provision of security
  • C. stimulation of business enterprises
  • D. loss prevention and control
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