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The insurance policy taken to cover dishonesty of account personnel of an organisation is? 

Commerce
WAEC 2018

The insurance policy taken to cover dishonesty of account personnel of an organisation is? 

  • A. employers laibility
  • B. fidelity guarantee
  • C. life endowment
  • D. marine insurance
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Correct Answer: Option B
Explanation

Fidelity guarantee insurance; An agreement whereby, for a designated sum of money, one party agrees to guarantee the loyalty and honesty of an agent, officer, or employee of an employer by promising to compensate the employer for losses incurred as a result of the disloyalty or dishonesty of such individuals. It is most often sought by companies where employees are more likely to cause financial loss because of their constant exposure to cash, stocks or other assets.


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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Join your school's WhatsApp group
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Join your school's WhatsApp group