WAEC Commerce 2016 Objective — Question 22
Question 22 of 50 from the West African Examinations Council (WAEC) Commerce 2016 Objective paper, with the correct answer and a full explanation.
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22. The worth of a life assurance policy before its maturity date is A. residual value B. surrender value C. accrued value D. assured value
- A. residual value
- B. surrender valueCorrect
- C. accrued value
- D. assured value
Explanation
This surrender value is the worth of a life insurance policy when the assured decide to end the policy.
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