O-LevelCommerceInsurance7100/11 · Oct/Nov 2023 · Q311 Mark

Javed insured his shop for $120000. In the following year 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$12000

B$108000

C$120000

D$132000

✓ Correct answer

C: $120000

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Topic: Insurance, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, Oct/Nov 2023 Paper 1 Variant 1, question 31.

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