JAMB Past Questions and Answers - Page 119

591.

Tourism serves the purpose of

A.

cross-cultural understanding and peaceful interaction

B.

opening values for leaving the country

C.

economic development and naturilization

D.

exploiting the country's natural endowment

Correct answer is D

No explanation has been provided for this answer.

592.

A person who undertakes life insurance is said to be an

A.

insurer

B.

assurer

C.

assured

D.

insured

Correct answer is D

Insured refers to the owner of the property insured or the person whose life is the subject of the contract of insurance

593.

Assurance is different from insurance in that the former is based on

A.

probability

B.

possibility

C.

risk

D.

uncertainty

Correct answer is B

Assurance is similar to insurance, with the terms often used interchangeably. However, insurance refers to coverage over a limited time, whereas assurance applies to persistent coverage for extended periods or until death. 

594.

The right of an insurance company to stand in place of an insured against a third party , who is liable for the occurrence of a loss, is the principle of

A.

proximate cause

B.

insurable interest

C.

insurance priority

D.

subrogation

Correct answer is C

No explanation has been provided for this answer.

595.

Communication is relevant to business activities because it

A.

creates wealth for people

B.

reduces the cost and risk of travelling

C.

connects people

D.

enhances delivery of goods and servicess

Correct answer is C

Effective communication can help to foster a good working relationship between you, your staff and customer which can in turn improve morale and efficiency.