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Insurance Past Questions

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use the following information to answer the question below.

Basanya's vehicle was hit at the rear by jaguna's vehicle. The two vehicles had a minimum cover. estimate of repairs were as follows; 

Basanya's vehicle - N155,000; jaguna's vehicle- N75,000

46

The effect of the minimum cover on the two vehicles is the the?

  • A. two vehicles will be repaired by jaguna's insurer
  • B. insurer of each vehicle is responsible for the repairs
  • C. vehicle of Basanya will be repaired by jaguna's insurer
  • D. two vehicles are not entitled to compensation from the insurer
View Answer & Discuss WAEC 2018
47

The compensation would be calculated as

  • A. N75,000 payable to jaguna
  • B. N80,000 payable to jaguna
  • C. N155,000 payable to basanya
  • D. N230,000 payable to basanya
View Answer & Discuss (1) WAEC 2018
48

jaguna's repaired expenses of N75,000 would be paid by

  • A. jaguna's insurer
  • B. jaguna
  • C. Basanya's insurer
  • D. Basanya
View Answer & Discuss WAEC 2018
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49

The right which an insurer has to stand in the place of the insured against a negligent party is?

  • A. insurable interest
  • B. subrogation
  • C. proximate cause
  • D. contribution
View Answer & Discuss WAEC 2017
50

A life policy holder enjoy days of grace

  • A. at the inception of the policy
  • B. at the renewal time of the policy
  • C. when he surrenders the policy
  • D. when the policy is paid up
View Answer & Discuss WAEC 2017
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