O-LevelCommerceInsurance7100/11 · Oct/Nov 2019 · Q301 Mark

If an insurance company indemnifies you when you have made a claim, what does this mean?

AIt will compensate you for the actual loss.

BIt will pay a fixed percentage of the amount lost.

CIt will pay you the amount you have insured.

DIt will replace everything you have lost.

✓ Correct answer

A: It will compensate you for the actual loss.

Oracle Prep sorts past-paper questions by topic, so you can drill Insurance and see which topics are most likely to come up next.

Topic: Insurance, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, Oct/Nov 2019 Paper 1 Variant 1, question 30.

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