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Commerce Past Questions and Answers

Jamb Commerce Questions

Question 16:
Endowment policy in insurance business is an aspect of
  • A Accident insurance policy
  • B Fidelity guarantee insurance policy
  • C Motor vehicle insurance policy
  • D Life assurance policy
View Answer & Explanation
Question 17:
Insurance against burglary is an example of
  • A Indemnity insurance
  • B Fidelity guarantee insurance
  • C Non-insurable risk
  • D Non-indemnity insurance
View Answer & Explanation
Question 18:
The principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is
  • A Subrogation
  • B Proximate cause
  • C Uberrimae fidei
  • D Contribution
View Answer & Explanation
Question 19:
The insurance principle that allows an insurance company to take over the rights of the insured once he has been compensated is
  • A Indemnity
  • B Proximate cause
  • C Utmost good faith
  • D Subrogation
View Answer & Explanation
Question 20:
A trader who experienced loss through fire can be restored by
  • A An insurance company
  • B A trade association
  • C The bank
  • D An advertising agency
View Answer & Explanation