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WAEC Commerce 1991 (August) Question 46

Question 46

Insurance

The two main categories of marine losses are

  1. A.total loss and partial loss
  2. B.total loss and particular average loss
  3. C.total loss and constructive total loss
  4. D.total loss and actual total loss
  5. E.partial loss and constructive total loss
Show the answer and explanation

Answer: A (total loss and partial loss)

Explanation

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