Here you will find the waec business management answers for 2020, solutions are present in words and pictures, make sure you confirm each questions with the answers before proceeding.
1 a. In insurance terms, *risk* is the chance something harmful or unexpected could happen. This might involve the loss, theft, or damage of valuable property and belongings, or it may involve someone being injured.
1. b. *Types of business risk*
*Economic Risk.
*Compliance Risk.
*Security and Fraud risk
*Financial Risk.
*Reputation Risk.
*Operational Risk
*Competition (or Comfort) Risk.
1 c i. *Freight policy* is an insurance policy for indemnifying the policyholder against loss of the freight money if the shipowner cannot complete his contract of carriage because of unavoidable peril.
II. Consequential loss policy is a policy that insures against consequential or indirect losses such decreased sales, which arise from damage to an insured property.
III. *Whole life policy* is a life insurance policy which is guaranteed to remain in force for the insured’s entire lifetime, provided required premiums are paid, or to the maturity date.
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