JAMB Commerce 2023 Objective — Question 30
Question 30 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2023 Objective paper, with the correct answer and a full explanation.
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Which of the following is not among the principles of insurance? A.
- A. Indemnity
- B. Utmost good faith
- C. Full compensationCorrect
- D. Subrogation
Explanation
Basically, there are seven principles of insurance viz; insurable interest, indemnity, utmost good faith, subrogation, proximity, loss of minimization and contribution.
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