Post Utme Afe Babalola University 2022 Commerce Question 27

Practice objective / multiple choice question 27 from the 2022 Post Utme Afe Babalola University Commerce examination.

Post Utme Afe Babalola University 2022 Commerce Objective / Multiple Choice
Question 27 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2022 • COMMERCE • objective

A firm has two types of insurance policies: type A and type B. Type A policy covers losses up to ₦1 million, while type B policy covers losses up to ₦500,000. If the firm has a total of ₦2.5 million in losses, how much should it pay for each policy?

Answer Options

A. ₦1.25 million for type A policy, ₦1.25 million for type B policy
Correct Answer B. ₦1.5 million for type A policy, ₦1 million for type B policy
C. ₦1 million for type A policy, ₦1.5 million for type B policy
D. ₦1.5 million for type A policy, ₦1 million for type B policy
Correct Answer
B
Correct Option:
₦1.5 million for type A policy, ₦1 million for type B policy

About This Question

This is Post Utme Afe Babalola University 2022 Commerce Question 27. It is one of the objective questions from the 2022 Post Utme Afe Babalola University Commerce examination.

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