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WAEC Commerce 2011 Question 25

Question 25

Insurance

Which of the following is not a principle of insurance?

  1. A.Insurable interest
  2. B.Subrogation
  3. C.Surrender value
  4. D.Proximate cause.
Show the answer and explanation

Answer: C (Surrender value)

Explanation

Surrender value is a term in life assurance, not a principle of insurance.