It looks like that would work to me. You may need more parenthesis for grouping.
<?php echo (($WADAfaq_order->getColumnVal("FaqSection") == "1")?"Policy":
(($WADAfaq_order->getColumnVal("FaqSection") == "2")?"Policy Holder":(($WADAfaq_order->getColumnVal("FaqSection") == "3")?"Claims":"Managing the Scheme"))) ?>