O-LevelCommerceInsuranceOct/Nov 2024Paper 1 Q271 Mark
An insurance company has estimated that 5000 people will purchase fire insurance. The company forecasts 100 claims totalling $720000 in the next year. What is the average premium that this insurance company will charge for the 5000 people?
A$50
B$144
C$720
D$7200
✓ Correct Answer
The correct answer is B. 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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