by Sunday | Oct 17 | Insurance WAEC
A. assault B. trespass C. nuisance D. negligence Correct Answer: Option D D. negligence Explanation Professional Indemnity Insurance (PII) is a form of liability insurance that helps protect professional advisers, service-providing individuals and companies from...
by Sunday | Oct 17 | Insurance WAEC
A. marital status B. place of birth C. date of birth D. social status Correct Answer: Option C C. date of birth Explanation An endowment assurance policy is a life insurance contract that is designed to pay a lump sum after some specified period of time on death....
by Sunday | Oct 17 | Insurance WAEC
A. prompt payment of claims B. adequate reinsurance treaty C. allowance for ex-gratia payment D. settlement of investigated claims Correct Answer: Option A A. prompt payment of claims Explanation The “Prompt Payment of Insurance Claims” imposes certain deadlines on...
by Sunday | Oct 17 | Insurance WAEC
A. heating B. earthquake C. civil commotion D. spontaneous combustion Correct Answer: Option B B. earthquake Explanation Natural peril; This category includes such perils as injury and damage caused by natural elements such as rain, ice, snow, typhoon, hurricane,...
by Sunday | Oct 17 | Insurance WAEC
A. insured B. insurer C. reinsurer D. broker Correct Answer: Option A A. insured Explanation A Loss Assessor is appointed by the policyholder when they need to submit a substantial or complex claim. All fees are paid by the Policyholder....
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