WAEC Commerce 2024 Objective — Question 29
Question 29 of 50 from the West African Examinations Council (WAEC) Commerce 2024 Objective paper, with the correct answer and a full explanation.
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29. The amount that an assured receives if he discontinues a life policy is A.
- A. surrender value.Correct
- B. sum assured.
- C. net value.
- D. indemnity.
Explanation
The surrender value is the amount paid to an assured when he withdraws his/her assurance policy.
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