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66

In an endowment policy, benefits are paid at death or 

  • A. a lump sum is paid on maturity
  • B. regular payments are made after maturity
  • C. regular payments are made before maturity
  • D. no payments is made until the death of the insured.
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67

The part of the policy that describes the event that could lead to loss in an insurance contract is

  • A. recital clause
  • B. condition
  • C. specification
  • D. operative clause
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68

Insurance is defined as pooling of risk because many people 

  • A. with common interest make claims every year
  • B. with common risk insure with the same company
  • C. with common interest insure with reinsurance company
  • D. form common association to help themselves
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69

The policy of insurance is signed by the?

  • A. representative of the insured
  • B. representative of the insurer
  • C. insurance broker
  • D. insurance consultant
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70

The document that is legally required to be issued by insurers in respect of compulsory insurance is

  • A. cover note
  • B. endorsement
  • C. certificate
  • D. renewal note
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