Which of the following is not a function of an insurance company?

Assessment: WAEC SSCE - Economics - 2013 (Objective) Subject: Economics

Question 1 Report

Which of the following is not a function of an insurance company?
Answer Details
The option that is not a function of an insurance company is "collection of deposits from the public for investment." Insurance companies do not collect deposits from the public for investment. Instead, they collect premiums from policyholders to pool resources together against risks. Insurance companies also mobilize funds through premiums collected and encourage investment by providing security of capital.
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