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BECE Business Studies 2023 Objective — Question 11

Question 11 of 120 from the Basic Education Certificate Examination (Junior WAEC) (BECE) Business Studies 2023 Objective paper, with the correct answer and a full explanation.

An agreed sum of money that the insured pays to the insurer at periodic intervals is ______.

A. contribution
B. indemnity
C. interest
D. premiumCorrect
E. subrogation

Explanation

The periodic payment is the premium.

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