JAMB Commerce 2004 Question 5

Question 5

Insurance

Coverage against unexpected events is called

  1. A.insurance
  2. B.assurance
  3. C.warranty
  4. D.reinsurance
Show the answer and explanation

Answer: A (insurance)

Explanation

Insurance covers events that may or may not happen, such as fire or theft; assurance covers events that are certain, such as death.