WAEC SSCE - Insurance - 2016 (Objective)

An attachment to an insurance policy that modifies the policy is?

business interruption claims will only be settled if it is caused by?

A clause that prevents the insurer from paying under a policy if the insured killed himself is?

A document used to provide evidence of insurance if the policy document is not imediately available is

The duty of a loss assessor is to ensure

surrender value is the amount payable if the insured

The policy taken to cover loss of income that a business suffers when its facilities are closed due to a disaster is

To insure any property, the insured must have

features of insurable risk include?

(i) fortuity (ii) insurer (iii) utmost good faith (iv) financial value

The responsibility of the institute of loss adjuster is to?

A document used to alter the information contained in the schedule of a policy is?

The body charged with the responsibility to promote and uphold universally accepted standards in insurance business

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.

what is the proximage cause of the damage to the car

The person named to recieve the life assurance proceeds after the date of the life assured is?

An insurer will recover claims paid wrongly to an insured if

which class of insurance would be required by a petrol filling station operator whose operation involve high financial  transactions?

A life insurance contract will be affected by failure to disclose?

peril in insurance means

An event sufficiently related to a legally recognizable injury to be the cause of that injury is?

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.

the insurance prinsiple that deals with mr adeyem's failure to inform the insurer about his wife's usage of the car is?

mr. Thomas assured his life for the sum of N300,000.00 for a period of 20 years. The premium payable being N2,200.00 monthly.due to loss of employment, thomas was not able to pay the premium in the last 3 months .

what is the term used for the amount payable to mr. Thomas if he chooses to discontinue with the contract

A ''no claim discount'' will be granted under 

In motor insurance, which of the following covers will take care of all parties that can be involded in an accident

A component of an insurance policy document that introduces the parties to the contract is,

Hazard in insurance means?

A class of insurance that covers policy holders for losses caused by fruadulent employees is?

which of the following conditions must be met before and insurer is under obligation to pay claim

A guarantee issue by an insurance company to support their client who is applying for a contract is 

The process of transfering a risk already taken by an insurer to other insurers is?

The principle of insurance that demands that the insured must stand to loss in the event of a loss before taking a policy is

when a policy is cancelled before its expiry date, what is owed to the insured is

A risk classified is uninsurable when the

which of the following professionals assist in determining the actual cost of a loss to be paid by an insurer on a claim

An insurance cover that protects experts from bearing the cost of negligence arising from their service?

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.

what is the effect of the damage by rioters as regards the claim. he will?

A term insurance policy is cheap because?

A motor policy that provides cover for the loss or damage of a vehicle used for farming purposes is

which of the following is a subject matter of insurance in fire policy

the sum assured is the value of the?

Ex-gratia payment is made where there is

which of the following benefits will be covered under personal accident insurance

one of the difference between contract of life assurance and non life insurance is?

mr. Thomas assured his life for the sum of N300,000.00 for a period of 20 years. The premium payable being N2,200.00 monthly.due to loss of employment, thomas was not able to pay the premium in the last 3 months .

what is the sum assured for the policy

A profefessional charged with the responsibility of assessing loss in insurance

A blanket policy in fidelity guarantee insurance is to cover

mr. Thomas assured his life for the sum of N300,000.00 for a period of 20 years. The premium payable being N2,200.00 monthly.due to loss of employment, thomas was not able to pay the premium in the last 3 months .

what is the term for the period he will be allowed to reinstate the contract

A life policy where the insured cannot make claim himself because the payment cannot be made in his life time is

which of the following policies can be used as security for a loan.

Risk assumed by more than one insurance company and shared accordingly

To assess aviation risks, the underwriter would want to know the