O-LevelCommerceInsurance7100/11 · Oct/Nov 2013 · Q321 Mark

Tariq's new sports car is worth $30000 but he has insured it for $24000. Yesterday the car was involved in an accident and will cost $15000 to repair. If Tariq claims on his policy, what is the maximum amount that the insurance company is likely to pay out?

A$9000

B$12000

C$15000

D$18750

✓ Correct answer

B: $12000

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Topic: Insurance, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, Oct/Nov 2013 Paper 1 Variant 1, question 32.

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