by Sunday | Oct 17 | Insurance WAEC
A. adequate compensation to the insured B. payment of premium to the insurer C. that risk manager identifies the risk properly D. that insurance broker collects a commission Correct Answer: Option A A. adequate compensation to the insured Explanation A Loss Assessor...
by Sunday | Oct 17 | Insurance WAEC
A. non-life requires renewal while life does not B. life requires renewal while non-life does not C. life is subject to indemnity while non-life is not D. non-life is subject to compensation while life is not Correct Answer: Option D D. non-life is subject to...
by Sunday | Oct 17 | Insurance WAEC
A. private car policy B. agricultural policy C. special type policy D. motor trades policy Correct Answer: Option C C. special type policy
by Sunday | Oct 17 | Insurance WAEC
A. insurable interest B. goodwill C. premium D. valuable consideration Correct Answer: Option A A. insurable interest Explanation Insurable interest is defined as the reasonable concern of a person to obtain insurance for any individual or property against unforeseen...
by Sunday | Oct 17 | Insurance WAEC
A. fidelity guarantee insurance B. marine insurance C. life insurance D. motor insurance Correct Answer: Option D D. motor insurance Explanation No-claim bonus (NCB) is a discount in premium offered by insurance companies if a vehicle owner has not made a single claim...
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