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JAMB Commerce 2014 Question 20

Question 20

Insurance

A trader who experienced loss through fire can be restored by

  1. A.an insurance company.
  2. B.a trade association.
  3. C.the bank.
  4. D.an advertising agency.
Show the answer and explanation

Answer: A (an insurance company.)

Explanation

An insurance company compensates an insured trader so that he is put back where he was before the fire.