Gce Model Questions Vol1 2025 Commerce Question 37
Practice objective / multiple choice question 37 from the 2025 Gce Model Questions Vol1 Commerce examination.
An insurance company expects the average claim cost per motor policy to be \(\text{₦}45{,}000\). Administrative expenses are \(12\%\) of the premium charged. The company wants to add a safety loading of \(15\%\) on top of the sum of expected claim cost and expenses. What premium should be charged per policy?
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About This Question
This is Gce Model Questions Vol1 2025 Commerce Question 37. It is one of the objective questions from the 2025 Gce Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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