Gce Model Questions Vol1 2023 Commerce Question 10
Practice essay / theory question 10 from the 2023 Gce Model Questions Vol1 Commerce examination. This question covers Insurance, Premium calculation, Risk assessment, Adverse selection .
An insurance company offers a standard motor insurance policy. The following data are available from the previous underwriting year: • Total motor policies written: 2,000 • Number of claims reported: 150 • Average claim amount: ₦250,000 The company adds a loading of 25 % to cover administration costs and profit. A driver who has not made any claim in the past three years is eligible for a 10 % discount on the gross premium. Answer the following:
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This is Gce Model Questions Vol1 2023 Commerce Question 10. It is one of the essay questions from the 2023 Gce Model Questions Vol1 Commerce examination.
The question covers Insurance, Premium calculation, Risk assessment, Adverse selection .
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