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The compensation made to an insured for loss incurred in insurance is called

Commerce
NECO 2002
The compensation made to an insured for loss incurred in insurance is called
  • A. commission
  • B. indemnity
  • C. interest
  • D. pooling risks
  • E. premium
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Correct Answer: Option B
Explanation
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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