by Sunday | Oct 17 | Insurance WAEC
A. cashiers handling cash B. all staff that may handle cash C. cash from office to bank D. all receivables of the company Correct Answer: Option B B. all staff that may handle cash Explanation Fidelity Guarantee policy indemnifies against the infidelity of an employee...
by Sunday | Oct 17 | Insurance WAEC
A. loss adjuster B. insurance broker C. actuary D. surveyor Correct Answer: Option C C. actuary Explanation An actuary is a business professional who deals with the measurement and management of risk and uncertainty. Being an actuary means having highly valued...
by Sunday | Oct 17 | Insurance WAEC
A. hazard B. remote clause C. proximate cause D. peril Correct Answer: Option C C. proximate cause Explanation Proximate cause is a key principle of insurance and is concerned with how the loss or damage actually occurred and whether it is indeed as a result of an...
by Sunday | Oct 17 | Insurance WAEC
A. applicable B. variation list C. log book D. endorsement Correct Answer: Option D D. endorsement Explanation The purpose of an endorsement is a policy change. Insurance companies create endorsements to offer options to insureds to add coverage or increase coverage...
by Sunday | Oct 17 | Insurance WAEC
A. burial expenses B. medical expenses C. legal expenses D. mortuary expenses Correct Answer: Option B B. medical expenses Explanation Medical care expenses include payments for the diagnosis, cure, mitigation, treatment, or prevention of disease, or payments for...
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