Post Utme Osustech 2020 Commerce Question 37

Practice objective / multiple choice question 37 from the 2020 Post Utme Osustech Commerce examination.

Post Utme Osustech 2020 Commerce Objective / Multiple Choice
Question 37 POST_UTME_OSUSTECH • 2020 • COMMERCE • objective

A company's insurance policy covers losses due to fire, theft, and natural disasters. However, the policy has a deductible clause that requires the company to pay the first ₦100,000 of any loss. Using the concept of insurance and risk management, determine the most appropriate course of action for the company in the event of a loss.

Answer Options

Correct Answer A. Pay the first ₦100,000 of the loss and claim the remaining amount from the insurance company
B. Pay the entire loss and claim no amount from the insurance company
C. Increase the deductible clause to ₦200,000
D. Discontinue the insurance policy
Correct Answer
A
Correct Option:
Pay the first ₦100,000 of the loss and claim the remaining amount from the insurance company

About This Question

This is Post Utme Osustech 2020 Commerce Question 37. It is one of the objective questions from the 2020 Post Utme Osustech Commerce examination.

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