by Sunday | Oct 17 | Insurance WAEC
A. certificate B. cover note C. proposal form D. endorsement Correct Answer: Option B B. cover note Explanation A cover notes a temporary certificate showing that a person has a current insurance policy.
by Sunday | Oct 17 | Insurance WAEC
A. correct address B. status of assured C. place of work D. correct date of birth Correct Answer: Option D D. correct date of birth
by Sunday | Oct 17 | Insurance WAEC
A. a situation that poses a threat to life or property B. a situation where there is no agreement C. event that cannot legally be insured D. event that has been insured in the past Correct Answer: Option A A. a situation that poses a threat to life or property...
by Sunday | Oct 17 | Insurance WAEC
A. claim B. policy C. premium D. penalty Correct Answer: Option B B. policy Explanation An insurance claim is a formal request by a policyholder to an insurance company for coverage or compensation for a covered loss or policy...
by Sunday | Oct 17 | Insurance WAEC
A. no legal liability obligation B. legal liability obligation C. need to refund a premium D. delay in payment of compensation Correct Answer: Option A A. no legal liability obligation Explanation Ex gratia payment: A sum of money paid when there was no obligation or...
by Sunday | Oct 17 | Insurance WAEC
A. slip B. endorsement C. cover note D. policy form Correct Answer: Option B B. endorsement Explanation An insurance endorsement is an amendment or addition to an existing insurance contract that changes the terms or scope of the original policy. Endorsements may also...
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