Insurance
WAEC 2018
A reinsurance cover of N100,000 in excess of N20,000 was entered by insurer K with reinsurer M. In the event of a loss amounting to N120,000, M would pay?
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A.
N20,000
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B.
N120,000
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C.
N80,000
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D.
N100,000
Correct Answer: Option C
Explanation
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