Commerce Past Questions and Answers

[table][tbody][tr][td][b]NAME[/b][/td][td][b]INSUREDAMOUNT(₦)[/b][/td][td][b]ACTUALVALUE(₦)[/b][/td][td][b]ACTUALLOSS(₦)[/b][/td][/tr][tr][td]Mr. PMr. KMr. R[/td][td]25,00030,00040,000[/td][td]100,000120,000150,000[/td][td]30,00040,00050,000[/td][/tr][/tbody][/table] Use the table above to answer questions 27 and 28 If Mr. P takes a fire insurance policy with average clause, his compensation will be ____________

[table][tbody][tr][td][b]NAME[/b][/td][td][b]INSUREDAMOUNT(₦)[/b][/td][td][b]ACTUALVALUE(₦)[/b][/td][td][b]ACTUALLOSS(₦)[/b][/td][/tr][tr][td]Mr. PMr. KMr. R[/td][td]25,00030,00040,000[/td][td]100,000120,000150,000[/td][td]30,00040,00050,000[/td][/tr][/tbody][/table] What insurance principle has Mr. R violated if he decides to overstate the actual value of his property?

Hire purchase is advantageous to the seller in that ____________

A form of money with a face value that is greater than the value of the metal contents is ____________

The best mode of ensuring that items posted get to the named addresses is through ____________