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Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
21

A claimant who is not legally entitled to a claim under an insurance contract may be offered a payment on?

  • A. constructive total loss basis
  • B. partial loss basis
  • C. advice of loss basis
  • D. ex-gratia basis
View Answer & Discuss WAEC 2018
22

one benefit of life insurance policy is that it serves as 

  • A. replacement of earnings after injuries
  • B. provision for bad debts
  • C. collateral for loans
  • D. repair cost of damaged properties
View Answer & Discuss WAEC 2018
23

concealment of information considered to be material to the contract of insurance is violating the principle of?

  • A. subrogation
  • B. indemnity
  • C. insurable interest
  • D. utmost good faith
View Answer & Discuss WAEC 2018
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24

Extension cover under money insurance policy doesnt include?

  • A. shortage
  • B. hold-up
  • C. personal injury
  • D. damaged to safe
View Answer & Discuss WAEC 2018
25

The form of term assurance that operates three options which must be excised before maturity is

  • A. decreasing term insurance
  • B. increasing term insurance
  • C. level term insurance
  • D. convertible term insurance
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