Eke bought a new car for N1.5M. The practice in the insurance idustry is to pay 10% of the value of the vehicle as premium for comprehensive cover and 2.5% ...

Assessment: WAEC SSCE - Insurance - 2017 (Objective) Subject: Insurance

Question 1 Report

Eke bought a new car for N1.5M. The practice in the insurance idustry is to pay 10% of the value of the vehicle as premium for comprehensive cover and 2.5% additional cover for strike, riot and civil commotion. Eke was issued a document and two weeks later, he was issued another document different from the first document issued

What is the premium payable for the comprehensive cover

N37,000

N150,000

N155,000

N187,500

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