WAEC Commerce 2022 Objective — Question 23
Question 23 of 50 from the West African Examinations Council (WAEC) Commerce 2022 Objective paper, with the correct answer and a full explanation.
Advertisement
The principle which prevents an insured from receiving a claim that is more than the value of the loss, if the property is insured by more than one company is
- A. indemnityCorrect
- B. contribution
- C. proximate cause
- D. uberrimae fidei
Explanation
The principle of indemnity in insurance ensures that an insured party does not receive a claim more than the value of the actual loss suffered.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.