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111

A risk classified is uninsurable when the

  • A. extent of the loss can be calculated
  • B. risk will occur no matter the precaution taken
  • C. risk may not happen
  • D. insurance company cannot pay
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112

A profefessional charged with the responsibility of assessing loss in insurance

  • A. underwriter
  • B. adjuster
  • C. actuary
  • D. broker
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113

A clause that prevents the insurer from paying under a policy if the insured killed himself is?

  • A. exceptional clause
  • B. revival clause
  • C. accidental clause
  • D. suicide clause
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WAEC offline past questions - with all answers and explanations in one app - Download for free
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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114

A component of an insurance policy document that introduces the parties to the contract is,

  • A. exceptional clause
  • B. recital clause
  • C. particular clause
  • D. operative clause
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115

The responsibility of the institute of loss adjuster is to?

  • A. regulate the activities of its members
  • B. settle disputes among insurance companies
  • C. register all insurance practitioners
  • D. act as intermediaries between government and its members
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