Which of the following is not true of insurance?
COMMERCE
WAEC 1995
Which of the following is not true of insurance?
- A. A large number of pecple face the same risk
- B. A Possibility of making profit out of an event
- C. only a small number will actually suffer the loss in any one year
- D. A large number makes a small contribution to a common pool
Correct Answer: B. A Possibility of making profit out of an event
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