Fair Share Distribution in Inheritance

Fair Share Distribution in Inheritance

Assessment

Interactive Video

Mathematics, Business, Life Skills

9th - 12th Grade

Hard

Created by

Sophia Harris

FREE Resource

The video tutorial explains the sealed bids method for fair division, a process used to divide indivisible items like houses or cars among multiple parties. The method involves each party submitting a sealed bid for the items, determining a fair share, and allocating items to the highest bidders. Any differences in value are balanced with cash payments. The tutorial includes two examples: dividing a grandmother's estate among grandchildren and dividing an estate among four heirs, illustrating the method's application and outcomes.

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of the Sealed Bids Method?

To calculate taxes on assets

To fairly divide indivisible items

To ensure all parties have equal cash

To divide items that can be split into smaller pieces

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the Sealed Bids Method, what defines a player's fair share?

The lowest bid for an item

The average bid of all players

The total value of items divided by the number of players

The highest bid for an item

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens if a player's received items are valued more than their fair share?

They receive cash from the estate

They must return some items

They pay the difference to the estate

They keep the items without any payment

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the example with the grandmother's assets, who receives the house?

Player One

No one

Player Two

Player Three

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How much cash does Player One receive in the final settlement of the grandmother's example?

$53,000

$105,666.67

$61,333.33

$44,333.33

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the example with four heirs, what is Player A's fair share?

$480

$75

$100

$120

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What items does Player A receive in the four heirs example?

The desk

Both the desk and the vanity

Neither item

The vanity

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