by Sunday | Oct 17 | Insurance WAEC
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. The estimate of repairs was as follows; Basanya’s vehicle – N155,000; Jaguna’s...
by Sunday | Oct 17 | Insurance WAEC
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. The estimate of repairs was as follows; Basanya’s vehicle – N155,000; Jaguna’s...
by Sunday | Oct 17 | Insurance WAEC
A. term insurance B. public liability insurance C. endowment assurance D. personal accident insurance Correct Answer: Option C C. endowment assurance Explanation An endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its...
by Sunday | Oct 17 | Insurance WAEC
A. fire insurance B. all-risk insurance C. product liability insurance D. consequential loss insurance Correct Answer: Option D D. consequential loss insurance Explanation What is ‘Consequential Loss’. A consequential loss is an indirect loss resulting...
by Sunday | Oct 17 | Insurance WAEC
A. death of the assured till a specified period B. survival of the assured till a specified period C. survival of the assured till a specified period D. personal accident insurance Correct Answer: Option B B. survival of the assured till a specified...
by Sunday | Oct 17 | Insurance WAEC
A. advice the claimant on claims processing B. ensure prompt payment of claims C. estimate maximum loss D. investigate the cause of loss Correct Answer: Option C C. estimate maximum loss Explanation Loss Adjusters, also known as claims adjusters, work for insurance...