by Sunday | Oct 17 | Insurance WAEC
A. cash payment B. repairs C. replacement D. reinstatement Correct Answer: Option C C. replacement Explanation Methods Of Providing Indemnity To Insurance Contract : There are various ways through which indemnity may be provided. These are: Cash Payment: This is the...
by Sunday | Oct 17 | Insurance WAEC
A. protects the account of the insurer against large claims B. discourage the spread of risk in the insurance market C. provides protection for uninsured losses D. encourages the insured to make claims from more than one insurer Correct Answer: Option A A. protects...
by Sunday | Oct 17 | Insurance WAEC
A. expense B. mortality C. interest D. losses Correct Answer: Option A A. expense Explanation There are several factors used to determine your life insurance premiums, including the following: Age. Age is probably the single primary factor that determines your life...
by Sunday | Oct 17 | Insurance WAEC
A. at the inception of the policy B. at the renewal time of the policy C. when he surrenders the policy D. when the policy is paid up Correct Answer: Option B B. at the renewal time of the policy Explanation A grace period allows a borrower or insurance customer to...
by Sunday | Oct 17 | Insurance WAEC
A. insurable interest B. subrogation C. proximate cause D. contribution Correct Answer: Option B B. subrogation