WAEC SSCE - Insurance - 2018 (Objective)

The document used pending the issuance of certificate in motor insurance policy is

insurers requesting for membership of Nigeria Insurers Association is required by law to?

(i) have been registered with NAICOM (ii)operate with sound insurance principles (iii) hold membership of CHN (iv)  ascribe to the policy holding of NIA 

A condition precedent to an insurance contract is the

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

A document issued by an insurer giving temporary protection to the insure is?

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

The compensation would be calculated as

one of the steps taken by an insurer in claim settlement is to?

The insurance professional who assist the third party to evaluate the extent of loss in a motor accident is

The winding up of an insurance is legally required to be based on a petition written from not less than 

Extension cover under money insurance policy doesnt include?

The class of insurance under which a visitor who was bitten by her host dog would be compensated is?

one of the duties of  a loss adjustor is

A general question in an insurance proposal form is

The right to effect a contract of insurance on the life of a debtor by the creditor is?

The method of paying premium in life insurance contract in which premium payable increases as age increases is?

The minimum cover for motorist in nigeria is?

A factor to be considered before a proposal for endowment assurance is accepted is the proposer's?

An insurance policy is subject to a franchise of N115,000, how much would an insured who suffered of N120,000 recieve as compwnsation

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

A risk considered as sub standard in future can be dealt with by insurers through

(i) premium loading (ii) double insurance (iii) excess imposition

A reinsurance cover of N100,000 in excess of N20,000 was entered by insurer K with reinsurer M. In the event of a loss amounting to N120,000, M would pay? 

one benefit of life insurance policy is that it serves as 

An insured arranges for his premium payment to cease at the age of 70. This is a whole life policy with 

A loss assessor in a claim settlement process is representing the interest of the?

contract of insurance which involves large industrial risks are handled for protection through the completion of?

Addition of a new building to an existing fire and special perils insurance would be effected through the issuance of?

Marine cargo insurance indemnifies the insured for a loss of?

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

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

The legth of time in which a proposer is expected to effect changes in life insurance contract is?

musa lent obinna the sum of N2,000,000 i february 2015 which he promised to pay back at the end of the year..  musa decided to effect a life policy on obinna for a sum of N20,000 

The peril  insured against by musa is 

A condition which the insuring public would use to evaluate the financial stability of an insurer is?

Non-indemnity insurance policies are referred to as

A manufacturing company whose production was abruptly stopped by fire incidence would have its claim for loss of earning settled under the class of

musa lent obinna the sum of N2,000,000 i february 2015 which he promised to pay back at the end of the year..  musa decided to effect a life policy on obinna for a sum of N20,000 

The subject matter of insurance in the package is?

One of the functions of the institute of loss adjuster of Nigeria is to

car plying the road seeking passengers for payment of fares are classified by insurers as?

insurer XYZ is jointly covered for two lines surplus treaty reinsurance by reinsurers I,J,K and L for a retention limit of N120,000. The amount of cession for reinsurer K if all reinsurers share the risk equally with the sum insured of N360,000 is?

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

The use of gas burners for cutting and welding is considered in insurance contract as

payment of compensation under professional indemnity insurance would be influenced by?

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

family income benefit effected without capital benefit pays the sum assured from the date of?

one of the perils of nature is?

full return of premium paid for a contract of insurance is applicable in a situation involving?

An insurance that could be effected with profit feauture is

claims paid by insurers in the event of loss is irrecoverable when the?

modern insurance business was introduced into nigeria by?

The financial interest of the insured in an insurance policy is the