by Sunday | Oct 17 | Insurance WAEC
A. motor insurance B. marine insurance C. fire insurance D. aviation insurance Correct Answer: Option B B. marine insurance
by Sunday | Oct 17 | Insurance WAEC
A. cover note B. endorsement C. certificate D. renewal note Correct Answer: Option B B. endorsement Explanation A cover note is a temporary document issued by an insurance company that provides proof of insurance coverage until a final insurance policy can be issued....
by Sunday | Oct 17 | Insurance WAEC
A. representative of the insured B. representative of the insurer C. insurance broker D. insurance consultant Correct Answer: Option B B. representative of the insurer Explanation Signature of Insurance Policies: An insurance document, such as an insurance policy, an...
by Sunday | Oct 17 | Insurance WAEC
A. with common interest make claims every year B. with common risk insure with the same company C. with common interest insure with a reinsurance company D. form a common association to help themselves Correct Answer: Option B B. with common risk insure with the same...
by Sunday | Oct 17 | Insurance WAEC
A. recital clause B. condition C. specification D. operative clause Correct Answer: Option D D. operative clause Explanation The operative clause of the policy is a promissory clause. It is a promise that the insurer undertakes to pay the benefits of the policy if the...
by Sunday | Oct 17 | Insurance WAEC
A. a lump sum is paid on maturity B. regular payments are made after maturity C. regular payments are made before maturity D. no payments are made until the death of the insured. Correct Answer: Option A Explanation An endowment policy is a life insurance contract...