Goyal Brothers Prakashan solutions for Commercial Studies [English] Class 10 ICSE chapter 13 - Logistics and Insurance [null edition]

The benefits of public warehousing includes ______.

These warehouses are owned by manufacturers and traders to store the goods produced or purchased by them until they are sold out.

These warehouses are meant for use by businessmen in general. Any businessman can store his goods in these warehouses for some charge.

Importers who do not have their own warehouses can keep their goods in these warehouses by paying nominal charges.

Large amount of capital is required for construction and maintenance of ______ warehouses.

Public warehouses may be owned by ______.

These warehouses are established under a bond with the customs authorities for storage of dutiable goods till the payment of imports duty.

______ is necessary for building up a buffer stock of foodgrains.

Warehousing helps ______.

Which of the following are the characterics of insurance?

In ______ insurance, insurable interest must exist both at the time of contract as well as at the time of loss.

Proof of age is required in case of insurance.

The concept of insured value is applicable only in case of ______ insurance.

Hull insurance is a type of ______ insurance.

Name the type of insurance which is not a contract of indemnity.

Name the type of insurance wherein insurable interest need not exist when the policy is taken.

Name the principle of insurance under which the insurer stands in place of the insured after settlement of claim in relation to the insured property.

"The insured must disclose all material facts and the insurer must make clear all the terms and condition in the insurance contract." Which principle of insurance is referred to in this statement?

"The insurer undertakes to put the insured, in the event of loss, in the same position that he occupied before the event." Which principle of insurance is referred to in this statement?

______ is a contract which the insurance company undertakes to indemnify for loss or damage caused due to accidental fire.

Uberimmae fidae, the principle of insurance means ______.

A ______ is an establishment for storage or accumulation of goods.

The fastest mode of transport for light weight goods of high value is ______.

The insurer is liable for insured perils only and not for unexpected uninsured ones. This is the principle of ______.

Warehouses licensed by the government and established specifically for storage of dutiable goods are called ______.

Identify the principle of insurance based on the given information.

1. The insured must be benefitted by the existence of the insured object and must suffer a loss by its destruction.
2. It is the financial interest of the insured in the subject matter of insurance.

Identify the principle of insurance based on the given information:

1. It governs that an insurance contract compensates you for any damage, loss or injury caused only to the extent of the loss incurred.
2. Insurance contract ensures that the insurer does not make a profit in the event of an incurred loss.

Identify the principle of insurance based on the given information:

“The insured and insurer must disclose all relevant information honestly and fully to each other.”

ASSERTION: Rail transport offers more convenient and personal service.

REASONING: A motor vehicle can carry only a small load. Therefore, road transport is not suitable for carrying bulky or heavy goods.

Water transport is the cheapest and oldest mode of transport. Which of the following is incorrect regarding Water transport:

1. Perils of the sea involve considerable risk of loss during transportation.
2. The distance between places decreases because the routes followed by water transport may be quite circuitous.
3. Water transport is reliable.
4. Due to greater capacity for traffic on the sea, the possibility of traffic congestion is comparatively less.

Considering Anwar’s job at Zomato, which transport option would be the most effective for his deliveries?

Which of the following is NOT a merit of the Railways?

Maintenance and other operating costs of railways are very low.

Which warehouses are generally located in rural and suburban areas where space is available at low cost?

Doctrine of Subrogation implies that after indemnifying the insured for his loss, the insurer becomes entitled to all the rights and remedies relating to the property insured.

All the goods are not sold off as and when they are produced. They have to be kept in warehouses until the demand is created. Which of the following does not show importance of Warehousing?

Identify the picture.

Observe the given image and identify the type of warehouse.

Life insurance companies provide employment opportunities to millions of people.

According to Causa proxima principle, it is the duty of the insured to take all possible steps to minimise the loss or damage in case of a mishap.

Identify the insurance depicted in the picture.

Assertion: The concept of insurable interest is fundamental to all insurance contracts.

Reasoning: It ensures that the insured has a legitimate financial interest in the subject matter insured.

Life insurance provides protection to the family before the death of the insured. In case of premature death, the insured sum of money is not paid to the dependents of the insured.

Identify the insurance depicted in the picture below.

ASSERTION: Life insurance is also called ‘life assurance’.

REASONING: Life insurance is not a contract of indemnity because sum assured is always payable and only the time of payment is uncertain.

Which of the following is NOT a merit of water transport?

1. Rivers and oceans are natural tracks, and no capital investment is required for their construction and maintenance.
2. It is by far the fastest mode of transport.
3. Bulky and heavy goods like coal, iron ore, timber, etc., can be carried over long distances.
4. Goods may deteriorate during transit, and their quality and flavour may be adversely affected.

Identify the principle of insurance based on the given information.

1. The insured must be benefitted by the existence of the insured object and must suffer a loss by its destruction.
2. It is the financial interest of the insured in the subject matter of insurance.

Observe the picture and identify what type of Insurance can be claimed.

Raman is a small trader who does not have his own warehouse. Which type of warehouse will help him store his goods economically?

Which Principle of Insurance emphasizes that insurance contracts are based on trust and honesty between the insurer and the insured?

Explain the term 'logistics'.

Explain any two disadvantages of road transport over water transport.

Explain in brief three demerits of Water transport.

State two advantages of Road Transport over Air Transport.

State any two disadvantages of Rail Transport.

Give two advantages of Rail Transport over Road Transport.

Enumerate two types of warehouses found in India.

Distinguish between a private warehouse and a public warehouse.

What is bonded warehouse?

State any two characteristics of an ideal warehouse.

Distinguish between Public Warehouses and Bonded Warehouses.

How do warehouses help in price stabilization?

What is insurable interest?

Briefly explain the term insurance.

What is meant by Non-Insurable Risk?

Give one example of Non-Insurable Risk.

Explain 'contribution' as a principle of insurance.

What do you understand by ‘Health Insurance’?

Briefly explain the principle of Utmost good faith of insurance?

Write a short note on private warehouse.

Explain in brief the Principle of Subrogation.

Write a short note on Causa Proxima.

Briefly explain the Principle of Indemnity.

Write short notes on:

Mitigation of Loss as a Principle of Insurance.

Explain the following term/concept:

Bonded Warehouses

Describe the need of transportation.

Compare the merits of road transport and railways.

How is air transport superior to water transport?

Under what conditions is road transport suitable?

Explain the significance of transportation.

Describe the merits of rail transport.

State any two disadvantages of Rail Transport.

Explain in brief two merits of Water transport.

Explain in brief three demerits of Water transport.

Discuss the merits of air transport.

Discuss the demerits of air transport.

Describe the commodities for which air transport is most suitable.

Briefly explain any five factors a businessman should keep in mind while selecting a suitable mode of transport.

What is warehousing?

Explain any five importance of Warehousing.

Explain any five importance of Warehousing.

Explain any five importance of Warehousing.

Describe the different types of warehouses.

What is bonded warehouse?

Discuss the advantages of Bonded Warehouse to importers.

Distinguish between Principle of Indemnity and the Principle of Insurable Interest.

State any two characteristics of an ideal warehouse.

What is bonded warehouse?

Discuss the advantages of Bonded Warehouse to importers.

Explain any five importance of Warehousing.

Explain any five importance of Warehousing.

What is warehousing?

Give any three functions of Warehouses.

State any two characteristics of an ideal warehouse.

Distinguish between a private warehouse and a public warehouse.

Tabulate the three differences between warehouse warrant and warehouse receipt.

Explain the utility of cold storage.

What is meant by insurance?

Explain the principles of insurance.

"Insurance is a method of spreading risks." In the light of this statement, explain how does insurance help in minimising business risks.

"Insurance is a contract of indemnity." Explain.

"Principle of contribution is a corollary to the principle of indemnity." Comment.

Discuss the advantages of insurance to businessmen.

Discuss the advantages of insurance to the public.

Briefly explain the principle of Utmost good faith of insurance?

What is insurable interest?

Is insurable interest necessary in all insurance contracts?

Explain the principles of insurance.

Explain the principles of insurance.

Discuss the advantages of insurance to the public.

What is Life Insurance?

Discuss the advantages of insurance to the public.

What is Fire Insurance?

Discuss the importance of fire insurance.

Explain the meaning of marine insurance.

Explain the importance of marine insurance.

Explain the principles of insurance.

Explain any five advantages of air transport over water transport.

Mention any three merits of Road transport.

Mention any three merits of Road transport.

Mention three demerits of Road transport.

Mr. Mohan/Shah took a health insurance policy for Rs. 2 lakhs without disclosing proper facts. After three years, he was admitted in hospital due to acute tuberculosis. During investigation it was found that he had been a chain smoker for the past five years.

1. Will he be able to claim health insurance? Why?
2. Identify the Principle of insurance.

Write a short note on private warehouse.

Write a short note on Insurance.

A large business house has several factories which produce fast-moving consumer goods. It has its own fleet of trucks and warehouses in different parts of the country. The business house wants to reduce the time and costs involved in the distribution of its products among retailers. Advise the house.

Describe the merits of rail transport.

Explain in brief two merits of Water transport.

Describe the commodities for which air transport is most suitable.

Distinguish between a private warehouse and a public warehouse.

Distinguish between Public Warehouses and Bonded Warehouses.

Distinguish between Principle of Indemnity and the Principle of Insurable Interest.

Explain the principles of insurance.

Define fire insurance.

Define Marine Insurance.

Describe the kinds of marine insurance.

What do you understand by ‘Health Insurance’?

Explain the importance of health insurance.

What is Life Insurance?

Distinguish between Insurance and Assurance.

Distinguish between Life Insurance, Fire Insurance, and Marine Insurance.

1. Will Ms. Garima’s sister be able to claim the insurance? Why?
2. Identify the insurance principle involved.

1. Will Mr. Kartik be able to claim the insurance? Why?
2. Identify the applicable insurance principle.

Mention three demerits of Road transport.

Mention any three merits of Road transport.

Mr. Mohan/Shah took a health insurance policy for Rs. 2 lakhs without disclosing proper facts. After three years, he was admitted in hospital due to acute tuberculosis. During investigation it was found that he had been a chain smoker for the past five years.

1. Will he be able to claim health insurance? Why?
2. Identify the Principle of insurance.

Explain in brief the Principle of Subrogation.

Write a short note on Health insurance.

Write short note on Life insurance.

What is Fire Insurance?

Explain in brief two merits of Water transport.

Explain in brief three demerits of Water transport.

Mohan intentionally burns the old stock of damaged clothes in his warehouse. Then, he claims the insurance.

1. Which type of insurance would he claim?
2. Give one reason to state why the claim will not be settled.