Jim Leary Insured His Bookstore with a Fire Insurance Policy

question 64

Short Answer

Jim Leary insured his bookstore with a fire insurance policy of $90,000 at a cost of $.58 per $100. Eight months later his insurance company canceled the policy because of failure to correct a fire hazard. What did Jim have to pay for the eight months of coverage?

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Definitions:

Productivity

The effectiveness of productive effort, measured as the output per unit of input, often used in the context of business or personal work output.

Job Satisfaction

The degree of satisfaction workers experience regarding their job, influencing their productivity and general health.

Streamlining Work

Making work processes more efficient and effective by removing unnecessary steps or components.

Work Process

A series of tasks or operations conducted to achieve a specific outcome in a business or professional environment.