by Sunday | Oct 17 | Insurance WAEC
A. there is no claim if the insured survives the period B. the claim is small and easy to pay C. there is a claim if the insured survives the period D. there is no payment due to the insured Correct Answer: Option A A. there is no claim if the insured survives the...
by Sunday | Oct 17 | Insurance WAEC
A. beneficiary B. receiver C. administrator D. next of kin Correct Answer: Option A A. beneficiary Explanation A beneficiary is a person or entity you name in a life insurance policy to receive the death benefit.
by Sunday | Oct 17 | Insurance WAEC
A. earned premium B. unearned premium C. return premium D. unpaid premium Correct Answer: Option C C. return premium Explanation Return Premium: An amount, equal to a fraction of the premium, which is given back to the insured in the case of a cancellation, an...
by Sunday | Oct 17 | Insurance WAEC
A. Nigeria council of registered insurance brokers B. chartered insurance institute of Nigeria C. National insurers association D. Nigeria insurance commission Correct Answer: Option D D. Nigeria insurance commission Explanation The National Insurance Commission...
by Sunday | Oct 17 | Insurance WAEC
A. payment that is made by insurance B. events that lead to a loss C. exposure to no risk at all D. money that is paid for insurance Correct Answer: Option B B. events that lead to a loss Explanation A specific risk or cause of loss covered by an insurance policy,...
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