Commerce JAMB

The major determinant of fire insurance premium is the?

A. Owner of the property
B. usefulness of the property to the owner
C. Type and structure of the property to be insured
D. extent of fire-damaged anticipated.

Correct Answer:

Option C – Type and structure of the property to be insured

Explanation

The type and structure of the property will determine the value of the property since the value of the property will have to be considered by the insurance company before the contract will be entered into by both parties.

Sunday

Share
Published by
Sunday
Tags: Commerce

Recent Posts

List of Universities Offering Veterinary Medicine in Nigeria

Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…

4 months ago

List of Universities Offering Anthropology in Nigeria

Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…

4 months ago

List of Universities Offering Sociology in Nigeria

Sociology is the scientific study of human society, culture, and behavior. It examines the social…

4 months ago

List of Universities Offering Social Work in Nigeria

Social Work is a profession dedicated to helping individuals, families, and communities to cope with…

4 months ago

List of Universities Offering Religious Studies in Nigeria

Religious studies is an academic discipline that explores the beliefs, practices, and history of various…

4 months ago

List of Universities Offering Public Administration in Nigeria

Public administration is the field of study and practice that focuses on the organization and…

4 months ago