Solve the Problem

question 113

Multiple Choice

Solve the problem. Use the fire insurance rate table if needed. Rates are for each $100 of insurance. Round to the nearest dollar.
-Laura Lee Candies owns a class A building with a replacement cost of $154,000. Contents are valued at $71,000. The area is rated 3. Find the fire insurance annual premium.

• A)$774
• B)$90
• C)$896
• D)$971

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Definitions:

Predetermined Time Standards

Time values assigned to tasks based on standard conditions before actual work begins, used to plan and measure work performance.

Basic Motions

The fundamental human movements or actions that can be combined in various ways to perform work or tasks efficiently.

Therbligs

Fundamental motions required for a worker to perform manual operations, used in the study of motion economy.

Work Sampling

A statistical technique used for analyzing the work performance and estimating the proportion of time spent by workers on different activities.