WAEC Insurance tests the principles and practice of risk management — how insurance contracts work, types of cover, and the institutions that regulate the industry in Nigeria.
Questions consistently test the fundamental principles of insurance (utmost good faith, indemnity, insurable interest, subrogation, contribution) alongside specific types of policies. Precise definitions matter more here than general familiarity with the topic.
9 years available
Topics Covered in WAEC Insurance
Principles of Insurance
Life Assurance
Fire Insurance
Marine Insurance
Motor Insurance
Reinsurance
Insurance Institutions & Regulation
Underwriting
Claims Settlement
Risk Management
How to Improve in Insurance
- Master the core principles (utmost good faith, indemnity, insurable interest, subrogation, contribution) — most questions are built around identifying or applying one of these
- Know the distinguishing features of each policy type (life, fire, marine, motor) rather than treating them as interchangeable
- Learn the regulatory bodies governing insurance in Nigeria and their specific functions
- Always use timed mode — WAEC gives you roughly 40 seconds per question
- Read every explanation after submission — this is where the real learning happens
Questions About WAEC Insurance
The fundamental principles of insurance (utmost good faith, indemnity, insurable interest) are the highest-yield area, since most policy-type questions are built on top of them. Underwriting and claims settlement also appear regularly.
Select any year from the grid above to start a timed practice session. The quiz mirrors the real WAEC CBT format — questions displayed one at a time, a countdown timer, and automatic answer saving. After you submit, you get a detailed results page showing your score, which questions you got wrong, and explanations for each answer.
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