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Read the information supplied and answer the questions which follow - Leaving Cert Business - Question 5 - 2010
Question 5
Read the information supplied and answer the questions which follow. Glendarn Sports Club in Galway will hold its Annual General Meeting (AGM) in a local hotel next... show full transcript
Worked Solution & Example Answer:Read the information supplied and answer the questions which follow - Leaving Cert Business - Question 5 - 2010
Step 1
Using today’s date draft the Notice and the Agenda for the Annual General Meeting of Glendarn Sports Club. (The Agenda should contain five items)
Answer
Glendarn Sports Club
15 June 2010
Notice is hereby given that the Annual General Meeting of the Club will take place on 5 July 2010 at 7.30 p.m. in the Park Hotel Galway.
Agenda:
1. Minutes of the last Annual General Meeting
2. Chairperson's report
3. Treasurer’s report
4. Election of new officers
5. Report of clubhouse/Funding/Insurance costs
6. A.O.B.
Michael Brown
Secretary
Step 2
Step 3
Step 4
Step 5
Explain the insurance terms underlined above.
Answer
Insurance policy: A policy is a contract document between the insurance company and the insured – it contains details of the insurance, the risks covered, length of cover and the conditions attached.
Claim form: If an insured loss is suffered, the insured completes this document when seeking compensation, giving a description of what happened and stating the amount of loss suffered.
Step 6
Outline how the flood damage may affect future insurance premiums for the club.
Answer
Recent flood damage may increase the premiums as insurers assess the risks. Insurance companies may refuse to renew the current policy or amend the insurance contract, as they consider that the risk is now greater.