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Insurance Past Questions

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56

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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57

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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58

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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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
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59

one of the feature of ''with profit whole life assurance'' is that profit is allocated to the policy?

  • A. as soon as the policy holder dies
  • B. up to the date of death of the policyholder
  • C. when the insurer decides to pay the policyholder
  • D. as soon as the insured surrenders the policy
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60

The price paid for the purchase of insurance policy is?

  • A. premium
  • B. claim
  • C. renewal
  • D. benefit
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Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts