Insurance WAEC

A condition precedent to an insurance contract is the?

A. extent of the cover granted
B. right to cancel the insurance contract
C. right to take possession of the damaged property
D. existence of the subject matter of insurance

Correct Answer: Option D

D. existence of the subject matter of insurance

Explanation

Contract Subject matter of insurance is the life, limbs, property, rights or any potential legal liability insured under a policy. Subject matter of the contract is the insured’s financial interest in the subject matter of insurance.

Sunday

Share
Published by
Sunday
Tags: Insurance

Recent Posts

List of Universities Offering Veterinary Medicine in Nigeria

Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…

3 months ago

List of Universities Offering Anthropology in Nigeria

Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…

3 months ago

List of Universities Offering Sociology in Nigeria

Sociology is the scientific study of human society, culture, and behavior. It examines the social…

3 months ago

List of Universities Offering Social Work in Nigeria

Social Work is a profession dedicated to helping individuals, families, and communities to cope with…

3 months ago

List of Universities Offering Religious Studies in Nigeria

Religious studies is an academic discipline that explores the beliefs, practices, and history of various…

3 months ago

List of Universities Offering Public Administration in Nigeria

Public administration is the field of study and practice that focuses on the organization and…

3 months ago