The duty of a loss assessor is to ensure
- 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 commission
one of the difference between contract of life assurance and non life insurance is?
- 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
A motor policy that provides cover for the loss or damage of a vehicle used for farming purposes is
- A. private car policy
- B. agricultural policy
- C. special type policy
- D. motor trades policy
To insure any property, the insured must have
- A. insurable interest
- B. goodwill
- C. premium
- D. valuable consideration
A ”no claim discount” will be granted under
- A. fidelity guarantee insurance
- B. marine insurance
- C. life insurance
- D. motor insurance
A blanket policy in fidelity guarantee insurance is to cover
- A. cashiers handling cash
- B. all staff that may handle cash
- C. cash from office to bank
- D. all receivables of the company
which of the following professionals assist in determining the actual cost of a loss to be paid by an insurer on a claim
- A. loss adjuster
- B. insurance broker
- C. actuary
- D. surveyor
An event sufficiently related to a legally recognizable injury to be the cause of that injury is?
- A. hazard
- B. remote clause
- C. proximate cause
- D. peril
An attachment to an insurance policy that modifies the policy is?
- A. applicable
- B. variation list
- C. log book
- D. endorsement
which of the following benefits will be covered under personal accident insurance
- A. burial expenses
- B. medical expenses
- C. legal expenses
- D. mortuary expenses
A term insurance policy is cheap because?
- A. there is no claim if the insured survives the period
- B. the claim is small and easy to pay
- C. there is claim if the insured survives the period
- D. there is no payment due to the insured
The person named to recieve the life assurance proceeds after the date of the life assured is?
- A. beneficiary
- B. receiver
- C. administrator
- D. next of kin
when a policy is cancelled before its expiry date, what is owed to the insured is
- A. earned premium
- B. unearned premium
- C. return premium
- D. unpaid premium
The body charged with the responsibility to promote and uphold universally accepted standards in insurance business
- A. Nigeria council of registered insurance brokers
- B. chartered insurance institute of Nigeria
- C. National insurers association
- D. Nigeria insurance commission
peril in insurance means
- A. payment that is made by insurance
- B. events that lead to a loss
- C. exposure to no risk at all
- D. money that is paid for insurance