by Sunday | Oct 17 | Insurance WAEC
A. 30 policy-holders B. 40 policy-holders C. 50 policy-holder D. 60policy-holders Correct Answer: Option C C. 50 policy-holder Explanation The Insurance Act 2003 provides for the liquidation of insurers on the petition of either 50 policyholders or the National...
by Sunday | Oct 17 | Insurance WAEC
A. a proposal form B. a policy form C. an endorsement D. a slip Correct Answer: Option A A. a proposal form Explanation A proposal form is the form completed by the policyholder when applying for insurance. You will need to fill in information about the risk you are...
by Sunday | Oct 17 | Insurance WAEC
A. a cover note B. a proposal form C. an endorsement D. a slip Correct Answer: Option A A. a cover note Explanation A cover note is a temporary document issued by an insurance company that provides proof of insurance coverage until a final insurance policy can be...
by Sunday | Oct 17 | Insurance WAEC
A. decreasing term insurance B. increasing term insurance C. level term insurance D. convertible term insurance Correct Answer: Option D D. convertible term insurance Explanation A convertible insurance policy is a term usually related to life insurance. This type of...
by Sunday | Oct 17 | Insurance WAEC
A. shortage B. hold-up C. personal injury D. damaged to safe Correct Answer: Option A A. shortage Explanation Money insurance policy provides cover for loss of money in transit between the insured’s premises, bank and other specified places occasioned by...
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