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121

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
View Answer & Discuss WAEC 2016

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.

122

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
View Answer & Discuss WAEC 2016
123

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
View Answer & Discuss WAEC 2016
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124

what is the proximage cause of the damage to the car

  • A. misrepresentation
  • B. inexperienced driving
  • C. riot
  • D. reckless driving
View Answer & Discuss WAEC 2016
125

surrender value is the amount payable if the insured

  • A. does not want to continue with the life policy
  • B. does not want to continue with car insurance
  • C. died when a policy is valid
  • D. died when a policy is not valid
View Answer & Discuss WAEC 2016
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