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WAEC Commerce 2017 Question 27

Question 27

Insurance

The expert responsible for the calculation of probability of risks in insurance is

  1. A.an actuary.
  2. B.an underwriter.
  3. C.a broker.
  4. D.a solicitor.
Show the answer and explanation

Answer: A (an actuary.)

Explanation

An actuary uses statistics to calculate the probability of risks and fix premiums.