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WAEC Commerce 1994 Question 90

Question 90

Insurance

Business risks that can be insured against include
I. imitation of a company's product
II. damages caused by the use of a company's product
III. changes in fashion
IV. damages caused by fire
V. damages caused by flood

  1. A.I, II and V only
  2. B.II and IV only
  3. C.III and IV only
  4. D.IV and V only
  5. E.I, II, III and V only
Show the answer and explanation

Answer: D (IV and V only)

Explanation

Fire and flood damage can be insured; imitation and changes in fashion are business risks no insurer will cover.