Question 1
This is a case study question where the candidates were required to read, understand and apply their knowledge of the insurance principles in solving practical real-life problems posed in the case as related in the following questions:
(a) Identify the principle involved in the case and why?
(b) Explain the principle identified.
(c) Who should take delivery of the damaged parts of the Peugeot 406 car? (d) Explain two covers available under the insurance policy held by Mr. Peter Chukwu.
Observation
Most of the candidates attempted the question. However, a few were able to identify the principle involved while majority exhibited poor understanding and expressed of points.