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WAEC Commerce 2005 Question 45

Question 45

Insurance

Which of the following is not a principle of insurance?

  1. A.Indemnity
  2. B.Insurable risk
  3. C.Subrogation
  4. D.Insurable interest.
Show the answer and explanation

Answer: B (Insurable risk)

Explanation

Insurable risk is a type of risk, not a principle; indemnity, subrogation and insurable interest are principles.