Fire Insurance Claim: Calculation and Analysis

Fire Insurance Claim: Calculation and Analysis

Assessment

Interactive Video

Business

10th Grade - University

Hard

Created by

Wayground Content

FREE Resource

The video tutorial covers the process of calculating a fire insurance claim. It begins with an introduction to fire insurance claims, followed by a detailed description of a fire incident and the data provided. The tutorial then explains various adjustments and calculations needed to determine the claim amount, including handling abnormal items, sales returns, and unrecorded purchases. The final section discusses the application of the average clause and concludes with a summary of the process and key takeaways.

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10 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What was the date of the fire incident that occurred in the premises of Messrs Ajay and Sons?

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OFF

2.

OPEN ENDED QUESTION

3 mins • 1 pt

How much stock was salvaged after the fire incident?

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OFF

3.

OPEN ENDED QUESTION

3 mins • 1 pt

What was the total value of the fire insurance policy taken by the concern?

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OFF

4.

OPEN ENDED QUESTION

3 mins • 1 pt

What was the value of the goods returned by the customer before the date of the fire?

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OFF

5.

OPEN ENDED QUESTION

3 mins • 1 pt

What was the average percentage of gross profit to cost mentioned in the text?

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OFF

6.

OPEN ENDED QUESTION

3 mins • 1 pt

What amount was incurred by way of firefighting expenses on the day of the fire?

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OFF

7.

OPEN ENDED QUESTION

3 mins • 1 pt

What was the total amount of goods taken by Mr. Ajay for personal use?

Evaluate responses using AI:

OFF

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