Waec Model Questions Vol1 2023 Commerce Question 21
Practice objective / multiple choice question 21 from the 2023 Waec Model Questions Vol1 Commerce examination.
A policyholder suffers a loss of ₦500,000. The motor insurance policy has a deductible of ₦50,000 and a co‑insurance clause where the insurer pays 80% of the loss after the deductible. The insurer also charges a claim‑handling fee equal to 2% of the amount it pays. What is the net amount the policyholder receives from the insurer?
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About This Question
This is Waec Model Questions Vol1 2023 Commerce Question 21. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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