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WAEC Commerce 2005 Question 46

Question 46

Insurance

Which of the following terms is used in marine insurance when the cargo suffers partial loss?

  1. A.General Average
  2. B.Particular Average
  3. C.Floating Policy
  4. D.Open Cover.
Show the answer and explanation

Answer: B (Particular Average)

Explanation

A partial loss borne by one owner is particular average.