Post Utme Igbinedion University 2025 Commerce Question 31

Practice objective / multiple choice question 31 from the 2025 Post Utme Igbinedion University Commerce examination.

Post Utme Igbinedion University 2025 Commerce Objective / Multiple Choice
Question 31 POST_UTME_IGBINEDION_UNIVERSITY • 2025 • COMMERCE • objective

An insurance company offers a policy that covers a maximum of ₦5 million in case of theft. The premium for the policy is 5% of the maximum coverage. If a customer pays the premium for 5 years, how much will they have paid in total?

Answer Options

A. ₦250,000
B. ₦1,250,000
C. ₦2,500,000
Correct Answer D. ₦5,000,000
Correct Answer
D
Correct Option:
₦5,000,000

About This Question

This is Post Utme Igbinedion University 2025 Commerce Question 31. It is one of the objective questions from the 2025 Post Utme Igbinedion University Commerce examination.

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