by Sunday | Oct 17 | Insurance WAEC
A. all-risk policy B. key-man policy C. fidelity guarantee policy D. money insurance policy Correct Answer: Option C C. fidelity guarantee policy Explanation A fidelity guarantee is a form of insurance protection that covers policyholders for losses that they incur as...
by Sunday | Oct 17 | Insurance WAEC
A. comprehensive B. Act only C. third party D. third party, fire, and theft Correct Answer: Option A A. comprehensive Explanation Comprehensive insurance is a coverage that helps pay to replace or repair your vehicle if it’s stolen or damaged in an incident...
by Sunday | Oct 17 | Insurance WAEC
A. assurance B. re-investment C. reinsurance D. insurance Correct Answer: Option C C. reinsurance Explanation Reinsurance: The contract made between an insurance company and a third party to protect the insurance company from losses. Reinsurance is insurance that is...
by Sunday | Oct 17 | Insurance WAEC
A. regulate the activities of its members B. settle disputes among insurance companies C. register all insurance practitioners D. act as intermediaries between the government and its members Correct Answer: Option A A. regulate the activities of its members...
by Sunday | Oct 17 | Insurance WAEC
A. exceptional clause B. recital clause C. particular clause D. operative clause Correct Answer: Option B B. recital clause Explanation A recital clause is the introduction and identification of the relevant parties involved in the contract in terms of the insurance....
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