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The person who undertakes any risk in insurance business is known as

Commerce
JAMB 1997

The person who undertakes any risk in insurance business is known as

  • A. a broker
  • B. an underwriter
  • C. an insurer
  • D. an actuary
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Correct Answer: Option B
Explanation

An underwriter is the individual who assesses and assumes the risk for insurance policies. They evaluate applications and determine the terms of coverage.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
WAEC offline past questions - with all answers and explanations in one app - Download for free
Post UTME Past Questions Agent
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
Post UTME Past Questions Agent
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now