WAEC Past Questions and Answers - Page 2451

12,251.

which of the following professionals assist in determining the actual cost of a loss to be paid by an insurer on a claim

A.

loss adjuster

B.

insurance broker

C.

actuary

D.

surveyor

Correct answer is C

An actuary is a business professional who deals with the measurement and management of risk and uncertainty. Being an actuary means having highly valued mathematical skills and expertise. Actuaries come from different academic backgrounds but share a love of maths even if they haven’t done a maths degree.

12,252.

An event sufficiently related to a legally recognizable injury to be the cause of that injury is?

A.

hazard

B.

remote clause

C.

proximate cause

D.

peril

Correct answer is C

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 insured peril

12,253.

The signals from Ato modem X in the diagram above are

A.

analogue

B.

digital

C.

electrons

D.

protons

Correct answer is B

No explanation has been provided for this answer.

12,254.

An attachment to an insurance policy that modifies the policy is?

A.

applicable

B.

variation list

C.

log book

D.

endorsement

Correct answer is D

The purpose of an endorsement is a policy change. Insurance companies create endorsements to offer options to insureds to add coverage or increase coverage limits, but insurers may also issue special endorsements to limit or restrict coverage. Insurance endorsements are used in property and casualty insurance.

12,255.

The protocol used for email transmission is known as ?

A.

HTTP

B.

DHCP

C.

IP

D.

SMTP

Correct answer is D

No explanation has been provided for this answer.