JAMB Commerce 2010 Objective — Question 22
Question 22 of 50 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2010 Objective paper, with the correct answer and a full explanation.
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22. A businessman who undertakes a hull insurance policy is aiming at A. covering losses on damages to the cargo B. protecting injured crew in the ship C. averting payment of the freight D. covering damages to the body of the ship
- A. covering losses on damages to the cargo
- B. protecting injured crew in the ship
- C. averting payment of the freight
- D. covering damages to the body of the shipCorrect
Explanation
Hull insurance covers losses to the vessel itself from specified perils; usually there is a provision that marine hull should be covered only within specified geographic limits.
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