GRADE 12 BUSINESS STUDIES PRIMARY RESEARCH TASK INSURANCE

Transcription

1 GRADE 12 BUSINESS STUDIES PRIMARY RESEARCH TASK INSURANCE LO 2: AS : AS 3: Identify and research viable business opportunities and explore se and related issues through creation of achievable business ventures. Distinguish between assurance and insurance (compulsory and noncompulsory) Discuss relevance of se to both business and individuals Present a variety of business related clearly and accurately in verbal and non-verbal format, responds professionally to questions and feedback, and amends as necessary Instructions: Preparation for Task: 1. Listen to presentation by Mrs. Warren on insurance and assurance and complete worksheet given to you. You can also ask her questions topic of insurance and assurance. 2. You need to visit a business of your choice and ask m about any compulsory insurance that y need to pay on a monthly basis. Make sure that you get details like; who do y pay it too, why y must pay it; does it make up a huge portion of ir expenses; etc. 3. Also ask business about non-compulsory insurance. What items do y insure? Why do y insure it? Risk assessment Percentage of budget spent on insurance What items cannot be insured? Any or relevant questions Also ask about assurance 4. You need to clearly show your with responses in your final task.

2 Your actual Task: After and talk from Mrs. Warren, you need to analyse data that you have collected and complete primary research task. You need to include following in your task: 1) Give business you visited, include what sector it operates in. 2) Why do businesses have to pay insurance? 3) Explain in detail difference between Insurance and Assurance 4) Describe, in detail, three different types of Compulsory insurance. 5) What is meant by Non-compulsory insurance? 6) Report on at least 5 Insurable risks and three non-insurable risks 7) Discuss importance of insurance to a business 8) Any or related matters on insurance and assurance that you want to include 9) Get at least 3 quotes for vehicle below from different insurance companies. Indicate which one of quotes you will accept. The vehicle below will be driven by a male under age of 25 for personal use USED CAR Make: FORD Model: IKON Price R NEG Year: 2008 Mileage KM Additional Info: A/C, P/S, C/L, E/W, Airbags, Factory fitted CD/R, Original Mags, Clean cloth interior. Your task must be typed (4-5 typed pages). Use Arial font 12. You must have a cover page, index, reference, addendum, anti-plagiarism statement, statement of aunticity. (not part of 4-5 typed pages) DUE DATE: Hand in to Ms Cansfield on Monday 25 July 2011

3 Worksheet: Insurance talk with Mrs. Warren Listen carefully and answer questions worksheet. 1. Why do individuals and businesses need insurance? 2. What is difference between assurance and insurance? 3. What is risk profiling and how does it work?

4 4. What different types of insurance do you get?. 5. How do insurance claims work? 6. Factors that increase or decrease an individual or business risk.

5 7. Do you get a lot of fraudulent claims and how do you deal with it? 8. Any or you might want to write down.

6 Name: Overall description of achievement Quality of research and evidence of and materials collected: Marks level x 2 Evidence of with a business regarding ir insurance: Marks level x 2 Background business visited, including sector it s in: Marks level x 1 Content on Insurance 6 aspects: (1) why businesses pay; (2) difference between Insurance and Assurance; (3) details on 3 types of compulsory insurance; (4) description of noncompulsory insurance; (5) description of at least 5 insurable risks and 3 noninsurable risks; (6) importance of insurance. Marks level x 6 3 quotes for vehicle: Marks level x 1 Not Achieved 0-1 No evidence of collected or research done Poor No given or sector. No No quotes provided Gr12 Bus Stud: Primary Research Task - Insurance Poor 2 Little evidence of collected Below average Minimal business; mentioned sector it falls within. Only covered 4-5 of 6 required detail; Only covered 4-5 of 6 required detail; Only 1 quote provided and does not meet driver. Average 3 Some evidence of collected/res earch done Satisfactory Gave a brief business; mentioned sector it falls within. Brief coverage of all 6 aspects; OR Only covered 4-5 of 6 required detail; Only 1 quote provided which meets driver. OR 2 quotes are provided but do not meet driver. Good 4 Sufficient evidence of collected and research done Good Good business; showed and explained sectors it falls within. Good research and coverage topic of insurance covering all of required 6 aspects. Only 2 quotes are provided, but do meet driver; OR 3 quotes are provided but do not meet driver. Sub-Total Primary Research 60 Outstanding 5 Evidence of good quality and research having been done Evidence of an excellent quality having been done Gave excellent business and clearly showed and explained sectors it falls within. Excellent research and coverage on topic of insurance covered all 6 required detail. 3 quotes are provided and meet given s for an male driver under age of 25 years.

7 TECHNICAL REQUIREMENTS Research How many sources were used? One Two Three or more Were all sources correctly referenced in text and in No Mostly All bar 1 reference list? Was research well done, relevant and data collection method specified. No Mostly Yes Written Was re a front page? No Yes but with Yes errors Addendum provided No Mostly Yes Plagiarism Was re an anti-plagiarism and aunticity statement? No Yes but with errors Was plagiarism committed? 0 Yes Due Date Handed in on due date. Every day late Sometimes Yes No 4 Sub-Total Technical Requirements 10 Total 70