JAMB Commerce 1998 Question 24

Question 24

Insurance

The two main categories under which marine losses fall into are

  1. A.particular loss and average loss
  2. B.actual loss and general loss
  3. C.total loss and partial loss
  4. D.voyage policy loss and time policy loss.
Show the answer and explanation

Answer: C (total loss and partial loss)

Explanation

Marine losses are either total losses or partial losses (average).