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BECE Business Studies 2022 Objective — Question 16

Question 16 of 119 from the Basic Education Certificate Examination (Junior WAEC) (BECE) Business Studies 2022 Objective paper, with the correct answer and a full explanation.

The compensation paid to the insured by an insurance company in the event of suffering a loss is

A. abandonment.
B. contribution.
C. indemnity.Correct
D. premium.
E. subrogation.

Explanation

Indemnity restores the insured to the position before the loss.

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