JAMB Commerce 2023 Objective — Question 27

Question 27 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2023 Objective paper, with the correct answer and a full explanation.

The third-party insurance policy means that A.

A. the person that has no contract with the insurance company receives value.Correct
B. a third party will be held after paying compensation.
C. there must be a third witness to a policy.
D. all of the above.

Explanation

In a third party policy, the insurance is insured against a person he or she might have caused a loss to.

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