WAEC Economics 2013 Objective — Question 3
Question 3 of 50 from the West African Examinations Council (WAEC) Economics 2013 Objective paper, with the correct answer and a full explanation.
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Which of the following is not a function of an insurance company?
- A. Pooling resources together against risks
- B. Mobilization of funds through premiums collected
- C. Encouragement of investment by security of capital
- D. collection of deposits from the public for investmentCorrect
Explanation
Insurance companies are not like commercial banks that collect deposits from the public. What they collect is premiums.
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