FINA 4358

FINA 4358 MODULE 4 ASSIGNMENT Commercial Property insurance Homework Questions Module 4 1. We have quite a markup on our pressure vessels (a $400,000 vessel sells for $750,000). What would we collect if we lose one and why can’t we collect the sales price? Collect $400,000; PDI does not have Manufacturing’s Selling Price. 2. Our main warehouse has a replacement cost of $10 million if we rebuild it out of wood as it now stands. However, I know we’d go back with a steel building at...

FINA 4358-CHAPTER 1 QUIZ Chapter 1 Introduction to Financial Reporting Homework Q 1-1. Discuss the role of each of the following in the formulation of accounting principles: a. American Institute of Certified Public Accountants – important role in the private sector in establishing GAAP b. Financial Accounting Standards Board – a basis for evaluating the existing standards of financial accounting and reporting c. Securities and Exchange Commission – regulate securities trading i...

FINA 4358 MODULE 1 QUIZ

FINA 4358 MODULE 1 QUIZ Commercial Property Insurance Homework Questions Module 1 1. One of the steps in the “risk management process” is ‘analyzing exposures. What does this step entail? The ‘analyzing exposures’ step in the “risk management process” entails estimating the significance of possible losses identified in the ‘identifying loss exposure’ step. There are four dimensions of analyzing exposures: - Loss frequency: number of losses within a time period - Lo...

FINA 4358 MODULE 5 ASSIGNMENT QUESTIOND AND ANSWERS Commercial Property Homework Questions Module 5 1. With respect to PDI’s condominium in New York City, how can PDI determine where the dividing line lies between a condominium association’s interests and PDI’s interests? Using the Condominium Association Agreement-Pertinent documents 2. I’m getting some confusing information from our property manager in New York. It seems that the Office Park Condominium Association (OPCA) in New Y...

FINA 4358 MODULE 2C ASSIGNMENT Commercial Property Insurance Homework Questions 2c Module 2c The following questions pertain to the use of the Special Cause of Loss Form: 1. A PDI worker accidentally tossed an expensive piece of electronic equipment into the furnace at the manufacturing plant. Is this covered? Yes, friendly fire loss is covered under special cause form. 2. The guest residence in Clear Lake was severely damaged by fire. Actually, most of the damage was from smoke stains an...

FINA 4358 MODULE 4 ASSIGNMENT Commercial Property insurance Homework Questions Module 4 1. We have quite a markup on our pressure vessels (a $400,000 vessel sells for $750,000). What would we collect if we lose one and why can’t we collect the sales price? Collect $400,000; PDI does not have Manufacturing’s Selling Price. 2. Our main warehouse has a replacement cost of $10 million if we rebuild it out of wood as it now stands. However, I know we’d go back with a steel building at hal...

FINA 4358-CHAPTER 1 QUIZ Chapter 1 Introduction to Financial Reporting Homework Q 1-1. Discuss the role of each of the following in the formulation of accounting principles: a. American Institute of Certified Public Accountants – important role in the private sector in establishing GAAP b. Financial Accounting Standards Board – a basis for evaluating the existing standards of financial accounting and reporting c. Securities and Exchange Commission – regulate securities trading in nati...

FINA 4358 MODULE 1 QUIZ Commercial Property Insurance Homework Questions Module 1 1. One of the steps in the “risk management process” is ‘analyzing exposures. What does this step entail? The ‘analyzing exposures’ step in the “risk management process” entails estimating the significance of possible losses identified in the ‘identifying loss exposure’ step. There are four dimensions of analyzing exposures: - Loss frequency: number of losses within a time period - Loss sev...

FINA 4358 MODULE 5 ASSIGNMENT QUESTIOND AND ANSWERS