O-LevelCommerceInsuranceOct/Nov 2017Paper 1 Q301 Mark
Javed's shop was valued at $120000 when fire insurance was arranged. In each of the next three years the market value of the shop increased by $12000. Javed has not told the insurance company about this increase. If the shop is completely destroyed by fire, what is the maximum amount that the insurance company will pay out?
A$120000
B$132000
C$144000
D$156000
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of insurance within the Commercesyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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