TMA

TMA1/ENT121 – Principles & Practice of Insurance

TMA Quiz Questions

TMA: TMA1/ENT121
ENT121 – Principles & Practice of Insurance
Ms Ume Eucharia (euume@noun.edu.ng )

1 Contributory pension scheme is

A. Status quo
B. Government compensation for working life
C. Pooling resources towards end of work compensation  
D. Contributing to end time salaries

2 Annuity due contract commences at

A. Beginning of period  
B. Future date
C. Never
D. Sometimes

3 TEPs are

A. Low cost endowment
B. Endowments that ensures future growth
C. Enable investors to buy unwanted endowment policies  
D. Endowments used for tax shelters

4 Encashment or surrender value during adverse investment conditions suffers

A. Loss of capital
B. Market value adjustment  
C. Low cash value
D. Inflation

5 A life cover where the pay period is a large payment up from is

A. Limited pay  
B. Economic
C. Single premium
D. Participating

6 A life policy is fully paid by

A. 30 to 40
B. 40 to 50
C. 55 to 60  
D. 65 to 80

7 Charged premium on a life cover is

A. Equivalent to Indemnity
B. Vary from 0 to 10%
C. Never exceed maximum guaranteed in policy  
D. Very low

8 I whole life assurance insurer takes responsibility for

A. All risks  
B. Partial risks
C. Death risk
D. Actuarial liabilities

9 Term assurance is taken for

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A. Whole life
B. At time of illness
C. 20 years period  
D. A term at school

10 Insurance cover for requirement for long term care is

A. Car insurance
B. Type A insurance
C. Life insurance  
D. Requirement policy

11 CAR is a policy taken for

A. Generators
B. Compressors
C. Stadiums  
D. Transformers

12 Workers compensation claims for the 8th after injury or damage is

A. 10%
B. 25%
C. 50%  
D. 100%

13 Duration of cover for freighted cargo is

A. 30 days  
B. 60 days
C. 90 days
D. 100 days

14 An institute cargo clause “B” covers

A. Fire or explosive losses
B. Loss overboard  
C. Discharge of cargo at port of distress
D. General average sacrifice

15 The main reason for taking up an insurance policy is

A. Indemnity
B. Non-monetary  
C. Money
D. Status symbol

16 A life insurance policy is based on

A. Status
B. Health conditions
C. Age  
D. Work experience

17 In a car accident situation involving two parties with third party insurance, each party makes claim to

A. Own insurance company
B. Other insurance company  
C. Third part
D. Vehicle licensing office

18 Insurance business related to death claims is classified as

A. Motor vehicles insurance
B. Miscellaneous insurance  
C. General accident insurance
D. Fire insurance

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19 Insurance business developed due to

A. Need to cover properties
B. Ingenious ideas of actuaries
C. Frequency of losses in business  
D. Industrial revolution

20 Insurance cover are meant for

A. Car owners
B. Business premises
C. All things  
D. General merchandise

 

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