Commerce Past Questions and Answers

NAME	INSUREDAMOUNT(₦)	ACTUALVALUE(₦)	ACTUALLOSS(₦)
Mr. PMr. KMr. R	25,00030,00040,000	100,000120,000150,000	30,00040,00050,000

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 ____________

NAME	INSUREDAMOUNT(₦)	ACTUALVALUE(₦)	ACTUALLOSS(₦)
Mr. PMr. KMr. R	25,00030,00040,000	100,000120,000150,000	30,00040,00050,000

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 ____________