◈ Oracle PrepSign Up Free
O-LevelCommerceInsurance7100/12 · May/June 2021 · Q271 Mark

A factory is valued at $3 million. Its owners insure it against fire with two companies for $3 million with each company. How much compensation would the owners receive after a total loss due to a fire?

Anone
B$1.5 million
C$3 million
D$6 million

✓ Correct answer

C: $3 million

Practise more questions on this topic

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

Sign up free →

About this question

Topic
Insurance, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source
O-Level Commerce, May/June 2021 Paper 1 Variant 2, question 27.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

Related Commerce questions

InsuranceMay/June 20151m

What does consequential loss insurance cover?

InsuranceMay/June 201520m

Comidex International Ltd is seeking insurance for its motor racing team.

InsuranceMay/June 20161m

Which type of personal insurance policy has a surrender value if the policyholder decides to stop paying the premiums?

Global tradeMay/June 20141m

Why does a trader exporting goods to another country have more difficulties than a trader selling in the home market?

AdvertisingMay/June 20141m

Why might advertising lead to lower prices?

AdvertisingMay/June 20141m

What is the most appropriate form of advertising for a small shop?

← Browse all past-paper questions

© 2026 Oracle Prep