Question 66:

• WAEC 2017

The expert who uses statistics to develop the premium payable in a life contract is an

A. Adjuster
B. Actuary
C. Assesor
D. Agent

Question 67:

• WAEC 2017

The factor which increases the possibility of loss that emanates from the insured attitude is?

A. Physical hazard
B. Moral hazard
C. Uninsured peril
D. Excepted peril

Question 68:

• WAEC 2017

The insured who suffered a loss would be entitled to the amount of compensation payable for the loss under the principle of?

A. Insurable interest
B. Utmost good faith
C. Indemnity
D. Contribution

Question 69:

• WAEC 2017

The policy of insurance is signed by the?

A. Representative of the insured
B. Representative of the insurer
C. Insurance broker
D. Insurance consultant

Question 70:

• WAEC 2017

The document that is legally required to be issued by insurers in respect of compulsory insurance is

A. Cover note
B. Endorsement
C. Certificate
D. Renewal note