JAMB Commerce 2014 Objective — Question 18
Question 18 of 50 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2014 Objective paper, with the correct answer and a full explanation.
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The principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is
- A. subrogation
- B. uberrimae fideiCorrect
- C. proximate cause
- D. contribution
Explanation
Uberrimae fidei is applicable to the insurance company as well as the person taking the insurance policy — both must disclose all material details relating to the risk.
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