by Sunday | Oct 17 | Insurance WAEC
A. endowment policy B. whole life insurance C. annuity policy D. term insurance Correct Answer: Option A A. endowment policy Explanation Endowment life insurance policies do not have investment risk or interest rate risk. an endowment policy does not earn any interest...
by Sunday | Oct 17 | Insurance WAEC
A. operative clause B. recital clause C. heading D. schedule Correct Answer: Option A A. operative clause Explanation The Operative clause in an insurance policy sets out the circumstances that must be present before an insurance company will pay out any claims to...
by Sunday | Oct 17 | Insurance WAEC
A. agent B. consultant C. broker D. adjuster Correct Answer: Option C C. broker Explanation An insurance broker is a specialist in insurance and risk management. Brokers act on behalf of their clients and provide advice in the interests of their...
by Sunday | Oct 17 | Insurance WAEC
A. stock insurance B. trade insurance C. fidelity insurance C. credit insurance Correct Answer: Option C C. fidelity insurance Explanation Fidelity Guarantee Insurance provides insurance against direct financial loss to companies arising out of the dishonesty of their...
by Sunday | Oct 17 | Insurance WAEC
A. term assurance B. pure endowment C. whole life insurance D. personal accident insurance Correct Answer: Option A A. term assurance Explanation A term assurance policy will be set up to last for a certain period of time (usually a specific number of years or until...
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