INS 231 RevisionIntroduction to Insurance Β· UNILAG

Tonight's plan 🎯

Everything below is built from the official DLI/UNILAG INS 231 course module (10 study sessions covering risk, the insurance device, history, fire & marine, life & motor, liability & accident, group & social insurance, the insurance market, company organization and core functions), its 121-question official past-paper bank with a verified answer key, and the official CMA (Computer-Marked Assessment) practice test. Work top to bottom, or jump straight to the CBT if you're short on time.

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Suggested order

1. Study Guide (30–40 min)

Work through all 10 study sessions β€” from the concept of risk through core insurance company functions β€” with Nigerian examples (NAICOM, NSITF, NIID, AIICO, Dangote) throughout.

2. Flashcards (20 min)

Drill definitions, classifications, and Acts until your "Know it" pile is full.

3. Quiz practice (30 min)

Answer with instant explanations. Filter by your weakest topic.

4. CBT Simulation (final run)

Timed, real exam-style mixed paper.

High-yield quick reference

Quick reference β€” full sheet under "Key Reference" tab
Insurance = risk transfer (individual β†’ group) + pooling of losses on an equitable basis
Insurable risk needs: many exposure units Β· accidental loss Β· determinable/measurable loss Β· no catastrophic loss Β· calculable chance of loss Β· economically feasible premium
Cardinal insurance principles: Insurable interest Β· Utmost good faith Β· Indemnity Β· Subrogation Β· Contribution Β· Proximate cause
Institute Cargo Clauses: ICCC (narrowest) < ICCB < ICCA (widest, all-risks subject to exclusions)
NAICOM regulates Nigerian insurers under the Insurance Act 2003

Study Guide

Tap a module, then a session, to expand. Key terms and definitions are boxed; worked Nigerian examples are highlighted.

Flashcards

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Practice Quiz

CBT Exam Simulation

Past Questions

All 121 questions from the official "Introduction to Insurance (INS 231) Past Questions" compilation, with answers & explanations. Tap a question to see the full breakdown.

CMA Practice Test

The official Computer-Marked Assessment (CMA) practice set, reproduced with a verified answer key and explanations. Tap a question to reveal the answer.

Key Reference

Full cheat sheet β€” definitions, classifications, Acts, dates and figures most likely to be tested directly.