Finance 10 PQ 9MWT 8 PQ 8EMQ 8 WT 9 PQ 7PQ 7Q 7WT 6EMQ
Sam's gross monthly pay is $4,500. Which of the following would be considered the maximum appropriate amount for Sam's monthly payment (PITI), according to a traditional rule of thumb?
$1260
Brianna has an annual income of $90,000 and is planning to buy a home. According to a traditional rule of thumb, which of the following home prices would be considered to be near the maximum price level Brianna should consider?
$220,000
Suppose a faculty member walked into a class of 70 students in their early to mid 20s, roughly how many of them are likely to die in the next 10 years?
1
How long do you have to be married to qualify for spousal SS benefits?
1 year
While there are lots of insurance options available, which of the following types of insurance are the ones we most likely need: (obviously the types of insurance needed are different for everyone, but try to think about an "average" person. check all that apply, hint: there are five)
1.Life insurance / Disability / Long Term Care 2.Auto Insurance Umbrella Insurance Health Insurance Homeowners/Renters Insurance
Earning one credit per quarter, how many years of work do you need to be eligible to receive a benefit?
10
How much does a new car typically drop in value during the first month of ownership?
10%
To earn a credit, you must earn at least $_____ per quarter to earn a credit for that quarter.
1130
John arranges with his employer to have $1,800 withdrawn during the year 2020 ($150 per month) and placed into his Flexible Spending Account. How much is John eligible to apply for in reimbursement of healthcare expenses Immediately after receiving his February paycheck?
1800$
Although you can certainly obtain either more or less coverage, a fairly common coverage limit is:
2,000,000
A borrower can request that private mortgage insurance premiums be canceled when the borrower's equity in the home reaches a level of:
20%
f the liability limits listed on your personal auto policy are 100/300/25, how much coverage do you have for property damage?
25,000
Suppose you choose a deductible of $1000 and back your car into the garage door damaging the door, framing, and wall. The estimated repair cost is $4000, how large of a claim check should your insurance company provide?
3000
Suppose you choose a deductible of $5000 and back your car into the garage door damaging the door, framing, and wall. The estimated repair cost is $8000, how large of a claim check should your insurance company provide?
3000
Social Security uses your highest _____ years of earnings.
35
Probate court typically costs around _____ of an estate.
4%
How long does the probate process tend to take?
4-18
How many credits do you need to qualify for a social security benefit?
40
Mark purchases a house for $230,000. Which of the following is the minimum down payment amount that would keep Mark from having to obtain private mortgage insurance?
47,000$
A rule of thumb is that you should insure your personal property for _____% of your dwelling value.
50%
How long do you have to be married to qualify for survivor benefits?
9 months
If you need coverage for property damage that you have created due to a collision, the coverage will be provided from Part ___ of your personal auto policy.
A
In Seth Godin's example, the signs are:
A "gift" from the past
The most important part of an application, according to Amanda Wowk, is:
A candidate's ability to convey how they add value
Which of the following is a turnoff in an interview?
A lack of specific examples of what you have done
An easy way to anticipate specific questions in an interview is:
Add a question mark to the job description's bullet
Quotes and policies tend to list liability insurance, such as bodily injury as two numbers: $### / $###. What is the first number, what is the second. (note: some quotes abbreviate and leave off the zeros that correspond to thousands. For example $100 = $100,000)
Amount per individual / Total per occurrence
What is the difference between an HO-1 and an HO-2 policy? (you may need to Google this one!)
An HO-2 is a longer list of items than the HO-1 policy
With a(n) adjustable-rate mortgage mortgage you are assuming the risk that interest rates change vs. a(n) fixed-rate mortgage mortgage where the lender assumes that risk.
Answer 1: adjustable-rate mortgage Answer 2: fixed-rate
Permanent life insurance ...............and is usually .............. than term life insurance.
Answer 1: covers you for your whole life if you pay the premiums Answer 2: more expensive
First-time home buyers are sometimes surprised to find the amount of funds that should be earmarked for annual home maintenance and repairs. While any level of expense could possibly occur, which of the following costs might reasonably be expected in any given year for a house valued at $200,000?
Approximately $4,000
Assume you are involved in an auto accident and a passenger in your car sues you and obtains a judgment against you for $200,000. Further assume that the liability limit of your personal auto policy is $100,000. In this situation, who pays what?
Auto insurer and Umbrella insuer each pay $100,000.
The emotional pain comes from:
Being on the fitting in path but thinking you should be on the standing out path
Which of the following covers damage to your car if it is hit while parked on the street.
Comprehensive insurance
In which of the following tasks is your real estate agent likely to be involved?
Coordinating with the lender. Drafting the offer to purchase. Coordinating home inspections. Coordinating with the closing attorney.
Renter's insurance policies do not cover every known peril. Which of the following is UNLIKELY to be covered in a typical renter's insurance policy?
Damage to the physical building
In an employment interview, first impressions are important. Which of the following should you avoid in order to create a good first impression?
Do not smile when meeting
Laura's first tip is to:
Don't pay for what you don't need
In addition to taking self-assessment tests, which of the following can be used to help determine your career interests (check all that apply)?
Explore careers available. Check career outlook at Department of Labor website.
The first step in finding a rewarding career is:
Getting to know yourself
Many times health insurance is included as part of an employer's benefits package. In this case, you the employee is part of the employers plan. It is not unusual for an employer to require that an individual contribute some amount monthly to offset the cost of health insurance, but usually not the entire premium. However, there are also many jobs that do not offer health insurance benefits. These individuals must find private health insurance on their own to be in compliance with the Obamacare mandate, or more practically, to cover their risk of getting sick. Because Obamacare requires individuals to buy insurance there are subsidies available to help offset the cost, in order to take advantage of the subsidies, individuals should purchase plans through:
Government run insurance exchanges
The UNCW Career Center currently uses _______________ as their career-management software system.
Handshake
Which of the following is more likely to be considered a weak signal from job seeker to hiring employer?
I seek a challenging position in investment banking.
Why does Dave Ramsey recommend 10-12x your income for life insurance?
If the investment upon a death makes 10% that replaces the persons income
Why does a mortgage company require a borrower to have homeowner's insurance?
In the event of damage the bank wants the property owner to fix the property
general rule, we insure
Items and risks that we cannot afford to pay/replace
It makes sense to insure:
Items and risks we cannot afford to replace
Looking at the insurance policy information, suppose Jane Doe were to get into an accident in which she crashed into two parked cars and damaged the guard rail on a bridge for a total of $162,000 in property damage.
Jane would owe $62,000 in damages above what her insurance covers
Which of the following types of professionals would be unnecessary to have on your home buying "team?"
Lender Closing Attorney Real Estate Agent Each of these professionals is a vital member of your team.
Seth Godin suggests that there is one toxic environment that is unacceptable:
Management that pushes you to compromise your morals
If you are young and single, with nobody relying on you, do you need life insurance?
Maybe not, as long as your family can cover your funeral costs and you don't have any debts that someone cosigned for. (don't leave them on the hook, get some insurance in that case)
In addition to insurance available through your employer, the government-run exchanges and off-exchange markets, the government also provides insurance options for low-income families and the elderly. .......... is a program that provides health insurance benefits to the elderly while ..............is a program that provides health insurance to low-income families. In addition, .................is a program designed to cover children in families that are not eligible for.................. but with incomes too low to afford private health insurance.
Medicare Answer 2: Medicaid Answer 3: CHIP Answer 4: Medicaid
A young person, even with very little wealth, should have an estate plan to:
Minimize the burden on their friends and relatives Give what little they have to who they want Ensure their children(s)'s guardian is declared
Examples of types of debt that will be included in the buyer's back-end ratio include:
Minimum monthly credit card payments Monthly car payment Monthly student loan payment
Nicole lives in a home which has an estimated market value of $260,000 and an estimated lot value (i.e., land) of $70,000. Nicole's policy provides insurance coverage of $160,000. Does Nicole appear to have sufficient coverage?
No, she should have at least $190,000 in coverage.
If you tend to go to the doctor more because you have a chronic illness or other reasons, which plan might make sense?
One with a low deductible but higher premiums
In general, the growth of the cash value component of permanent life insurance policies is less than other investment opportunities such as an index fund either because of fees in the case of universal or variable life insurance or because the rate of growth is fixed in the case of whole life insurance. In terms of simplicity, which makes more sense?
Purchase an inexpensive term life insurance policy and then invest in a retirement account such as an IRA
Which of the following would not be necessary in order to be considered prepared for an interview?
Research all of the company's competitors.
In order to be considered prepared for an interview, you should first:
Research the company. Learn the company's recent news.
Researching a career includes: (mark all that are applicable)
Researching online and reading Looking into what additional education may be needed Talking to people in the business
Robert's homeowner's insurance policy provides replacement value coverage and Robert submits a valid claim in the amount of $750. The insurance company processed the claim and paid Robert $250. The most likely reason for this is that:
Robert has a $500 deductible.
Ryan arranged for his employer to withhold $1,500 during the year to place into Ryan's Flexible Spending Account. As of December 31 of the year, Ryan had spent only $1,300 on eligible healthcare expenses. What is likely to happen to the remaining $200 in Ryan's account?
Ryan will lose the $200.
Experience can be hard to gain, but a good way to "experience" a career field include: (mark all that applicable, hint: there are three in this list)
Similar jobs on campus Internships Job shadowing
insurance
Spreads risk across the insurance pool
As your car ages you should:
Start setting aside money to buy a new car in the future
Teresa Walker mentioned three types of questions which may be asked during an employment interview. Which of the following were included in her list? Select three.
Stress questions Straight-forward questions Question behind a question
Which of the following are "named-perils" and covered by an HO-2 policy?
Sudden tearing, cracking or bulging of home Damage caused by vehicles Damage cause by aircraft smoke Falling objects Volcanic eruptions Windstorms and hail Explosions Freezing of household systems riots Weight of ice, snow and sleet Theft Vandalism Overflow or discharge of water Fire or lightning
Earning credits reduces your premium for medicare.
T
If you think you will need life insurance for 10 years, does it make more sense to buy a five year policy and renew it or a 10 year policy?
The 10 year policy is likely to be cheaper in the end
what is a deductable
The amount you have to pay to get your car fixed with insurance paying the rest (up to a limit)
insurance pool
The combined premiums of all insurance holders
What is a health insurance network?
The facilities, providers and suppliers your health insurer or plan has contracted with to provide health care services.
You should insure for:
The rebuilding cost
Many who finance a car argue:
They can profit from stocks paying more than the interest rate on the loan
Suppose you are looking to move to another city and are moving from a warm, sunny, and dry area like Las Cruces, NM, to a snowy, wet area like Detroit, MI, what is likely to happen to your collision and liability premiums?
They will increase
You can make a good impression through:
Thoughtful questions
What are a "TOD Instructions"?
Transfer on death
In addition to MyPlan.com, another source of career-assessment information mentioned by Teresa Walker was:
U.S. Department of Labor (specifically, https://doleta.gov/programs/onet/tools.cfm).
What, in general, makes a will valid? (state laws differ and you should check your state's laws) Check both items mentioned by the podcast guest.
WITNESSED BY 2 PEOPLE SIGNED
A main point of the podcast is that:
What an HR person sees may be different that what the applicant sees in themselves
Seth Godin suggests you should measure success by:
Whether you would be missed if you don't show up tomorrow
If you are married when you start drawing social security, and follow the lessons from this class in saving for retirement, are your social security benefits likely to be taxed?
Yes probably, (and we'd rather pay taxes than live broke!)
Does renters insurance cover the theft of items from your apartment?
Yes, most items
Permanent life insurance sounds like a good idea to many because they like the insurance portion combined with the cash value portion. However, unless you cancel the policy, you cannot get the cash value and if you die the insurance company keeps the cash value. Is there a way to access the cash value portion without canceling the policy?
Yes, you can borrow it and then pay interest on it
With lots of information available on the internet:
You have to figure out what to explore
If you choose the "actual cash value" method and your television is stolen
You may have to pay part of buying a new TV
Which of the following are covered by renter's insurance?
Your laptop being stolen while on vacation Items stolen from your car
What is a primary care physician (PCP)?
Your main doctor who may make referrals to specialists
An attorney-in-fact is:
a person authorized to perform business related transactions on behalf of someone else
Who determines if claims against Prince's estate are legitimate?
a probate judge
a legal document containing instructions for property disposition after your death is called:
a will
For assets in probate, the disposition of assets is determined by:
a will or state law
Because of persistent changes in technology, you are well advised to make sure you can:
adapt to changes in your career path.
Under which of the following mortgage types do you assume the risk of interest rates changing?
adjustable-rate mortgage
Premium
an amount to be paid for an insurance policy.
A will designates:
an executor
According to Teresa Walker, while networking remains important in the job-search process, __________________ is critical to your success.
applying online
To differentiate current job searches from those in the past, ___________________ has become vitally important in the recruiting process at most companies.
applying online
Transaction costs make homes expensive to buy and sell. In order to make a home worth purchasing, one typically should expect to live in it for:
at least 5-7 years
Trusts can be set up to:
avoid probate leave instructions for family set forward stages in which children and beneficiaries receive inheritance
One of the main reasons to set up a trust is to:
avoid the probate process
When the average premium level is set relatively low in a risk pool, it encourages:
both healthy and less healthy people to join the pool.
Self-assessment tests can be used to:
both of these answers are correct. summarize your career interests and values. verify your career interests and values.
If you are involved in a collision caused by an uninsured motorist, your personal auto policy should provide coverage under Part ___ of the policy.
c
Although not clearly stated in the video, HSAs differ from FSAs in when contributions become ineligible for use. This suggests that HSA contributions:
can be carried forward to be used in future years.
The UNCW Career Center currently uses 'Handshake' as their ____________________ software system.
career management
In addition to traditional flexible spending accounts, there are dependent flexible spending accounts. For these accounts, "dependents" are defined as:
children under 13, elderly, or incapitated.
When considering repairing versus replacing a car you should:
consider how reliable the car will be after the repair and how much life will be left
Amanda Wowk started her business to help people:
craft their career stories
healthcare power of attorney
declares who makes medical decisions
A "death spiral" in an insurance pool can be observed as several rounds of adverse selection that:
destroy an insurance market.
lauras tips in order
don't pay for what you need ask about discounts consider pay as you drive increase your deductable bundle policies with maintain good credit shop your policy regularly
Good, strong managers come from having:
enrollment
Anything of value remaining when you die is referred to as your:
estate
Planning for how your assets are disposed of during the final phases of your life and after is known as:
estate planning
A long-term romantic partner is entitled to your items if you do not have a will through a legal definition called "adverse possession" and commonly called "squatter's rights."
f
A parent can continue to sign documents and handle medical care for a child as long as they continue to live at home (or declare the parents home as their permanent residence).
f
All online templates are legally acceptable and will work for a first will.
f
All payments to you, including special payments such as those for being an estate trustee, count towards the earnings limit.
f
An ex-wife or ex-husband who is able to draw a benefit equal to 50% of your benefit means your benefit is cut in half.
f
Capital gains income and income from retirement accounts count against the income cap and cause many people to not receive SS benefits.
f
Holographic wills are acceptable in all states.
f
If Jacob's employer does not offer Flexible Spending Accounts to employees, then Jacob can set up an FSA on his own, with the help of the Internal Revenue Service.
f
If you have a permanent life insurance policy and you die, your heirs get the insurance payout as well as the cash balance.
f
If you hire an attorney to help with your estate planning documents they can handle making most decisions for you.
f
If you live with your significant other and die without a will, they typically inherit your assets under state law.
f
It almost always makes sense for the person managing your will to be a relative.
f
It is best to avoid conversations with potential trustees, guardians, and executors so future interactions are not awkward.
f
One definition of a credible signal is that it is a very positive statement about oneself.
f
Prospective employers will not be interested in whether you feel you can add value to their company.
f
You should not waste your time or that of the employer by applying to a position for which you do not possess all of the stated qualifications.
f
f you are young and healthy you probably don't need a will but at some point you "will". (Do you like puns? That's as funny as we get around a morbid subject.)
f
if you do not have the number of years of earnings used for SS benefit calculations, the SS administration will just use all the years you have.
f
if you wait to claim your benefits you will be paid a lump sum for any benefits you did not claim.
f
According to Teresa Walker, the interview process concludes when you walk out of the interview room.
false
According to a survey, the annual premiums for most umbrella policies is about $2,500.
false
Generally you don't need to worry about coverage beyond the state requirements.
false
If you are being conveyed in public transportation (as opposed to your private vehicle), there is no coverage offered for Medical Payments.
false
Insurance "eliminates" risk.
false
Listing folks to be guardians of your children after you pass is an easy decision.
false
No deductibles are assessed to insured parties under the collision portion of Part D auto insurance.
false
Renters should also have a homeowners policy to protect their personal belongings even though they don't own their home.
false
The guardian and the trustee (the person who oversees the trust for the children) should be the same person.
false
The probabilities are on your side when it comes to insurance.
false
The purpose of life insurance is to profit off of someone's death.
false
This course is all about using financial resources wisely. Reducing the limits of coverage on your personal auto policy in order to save premiums is always a good strategy.
false
if you have a whole life insurance policy, when you die your beneficiaries receive both the insurance benefit and the cash value of the policy.
false
Risk pooling is best set up by
finding risks that offset
The purpose of customizing your resume and cover letter is to:
get noticed in a large applicant pool.
Assets not subject to probate tend to:
have named beneficiaries
Which type of policy covers only "named perils" meaning a list of events and/or items that are covered by the policy?
ho-2
A good example of a website which includes career assessment tools can be found at (hint: there are two examples):
https://doleta.gov/programs/onet/tools.cfm www.myplan.com.
One difference between FSAs and HSAs is that with HSAs, contributions can be:
invested, to grow in value.
One of Dr. Schuhmann's suggestions for writing an effective cover letter is that:
it be tailored to the job and experience advertised.
Partnership theory suggests:
items acquired during marriage are owned 50/50
Which risk pool is most predictable?
large pool
Term life insurance policies tend to come in two types. If you want to keep the same benefit across the length of the term (the period for which you are purchasing insurance) you would purchase:
level Term Life Insurance
The Part A Coverage for your Personal Automobile Policy provides coverage for:
liability
In general, the least expensive form of life insurance is:
life term insurance
Amanda thinks _____ and ____ are the most reliable sources of good applicants.
linkedIN / Referrals
One way of tailoring a cover letter to the advertised position would be to:
mention how your specific skills fit the specific job requirements.
Can most people (most of us) afford to pay to rebuild our homes and replace our possessions after a fire?
no
Suppose your upstairs neighbor's toilet overflows while they are vacation and runs down into your apartment and ruins your entertainment center and television, is your landlord responsible for replacing your items?
not
When the net worth of homeowner's increases above $2,000,000 (and assuming they have an umbrella policy with $2 million limit), most of them will:
obtain higher limits on their umbrella policy.
Having a higher credit score:
often results in a lower mortgage interest rate.
risk pooling
organizing people into a group to collectively absorb the risk faced by each individual
Which items can we not afford to replace?
our home
Life insurance benefits are likely:
outside of the probate process
Insurance participants Pool their risk.
pool
One factor that helped to keep adverse selection from occurring in the national health insurance exchanges mandated by the Affordable Care Act was:
premium subsidies.
The number one trait Amanda is looking for is:
preparedness
HSAs can be used with high-deductible health plans (HDHP). In these plans, the monthly insurance premiums are lower and:
reimbursable expenses are also lower.
John has a Renter's Insurance policy (HO-4) and he submitted a claim to replace his electronic equipment, which had been stolen. The equipment cost $1,100 and John received a check from the insurance company for that amount. John apparently chose ___________________ coverage for his HO-4 policy.
replacement cost
A group of people, including both healthy and sick individuals, combines together to form an insurance:
risk pool
Choosing a 15-year mortgage as opposed to choosing a 30-year mortgage can easily result in:
saving $100,000 or more in total interest expense.
Not all real estate agents are legally obligated to be working in your best interests. That is why, if you are selling a home, it could be best for you to use a ______________ as your real estate agent.
seller's agent
Hiring employers often receive many applications for each position, thus the need for job seekers to:
send a credible signal as early as possible.
Homeowner's insurance policies do not cover every known peril. Which of the following is LIKELY to be covered in a typical homeowner's insurance policy?
smoke damage
The traditional order of who power of attorney is granted to is:
spouse trusted friend oldest child
If you die without a will, your assets will be distributed according to:
state law
The purpose of a Flexible Spending Account for healthcare expenses is to:
stretch the power of your dollar by saving withholding taxes and Social Security taxes.
Self-assessment tests in career planning can be used to _________________ your interests and values.
summarize verify
Factors that are important to you in a house can change over time, as families go through life. This suggests that you think long term when you are ranking the factors.
t
Financing a vehicle likely contributes to buyers purchasing more expensive vehicles.
t
If factors such as School district and lot size are considered 'Needs,' then it is likely that the adults in the household are not yet of retirement age.
t
If you delay taking your benefits after full retirement age, your benefit will increase by 8% per year, until age 70.
t
If you do not have as many years of earnings as used in the calculation, the SS admin will plug in a $0 for the missing years.
t
If you file before full retirement age, your benefit will be less and will remain less forever, than if you file at full retirement age.
t
If you would like to draw SS benefits but need some additional income, there are sometimes some creative ways to make it happen.
t
In simple terms, a survivor benefit is equal to your own benefit or the benefit of the deceased, whichever is higher.
t
It is important to show the prospective employer that you can add value to the their company.
t
Many people "impulse" purchase new vehicles without adequate consideration of finances and need.
t
Medical bills are a leading cause of consumer debt.
t
Most studies indicate that the overall costs of owning your home are cheaper than renting, but only in the long run.
t
One decision in the home-buying process that the real estate agent may not be able to help with is where within the community you feel comfortable in living -- what neighborhood "feels like home."
t
One definition of a "credible signal" is that it can be validated as being accurate.
t
Prince's sister stated that she was unaware of a will or any documents.
t
Provisional income, used by the IRS to decide if your social security benefits are taxable, is roughly your gross income, plus, tax-exempt income, plus 50% of your social security income.
t
Similar to FSAs, the basic purpose of an HSA is to save taxes on the reimbursement of eligible healthcare expenses.
t
The cash value portion of the account grows tax-deferred. (of course you could get this benefit with an IRA too.)
t
Typically health insurance plans have a mechanism that requires you to share the costs of your health insurance somehow.
t
Using a reliable, but low cost, online template is a reasonable way to keep costs down on a first will.
t
You are still being interviewed even after the formal interview is complete. This is why appropriate follow up is so important.
t
John has a Renter's Insurance policy (HO-4) and he chose to have Actual Cash Value coverage. If John submits a claim for covered electronic equipment that cost $800, John should expect to receive:
the depreciated value of the equipment.
The reason that it may not make sense to retain full coverage under Part D for older vehicles is that:
the insurance company insures to market value, not replacement value.
Knowing what we learned in the podcast earlier, what might happen to the quoted "total premium" in the reading, if the owners were to trade in their Prius for a Corvette?
the premium would increase
One reason why it is so important for job seekers to send a credible signal as early as possible is that:
the size of applicant pools means little time to screen applicants.
On our timeline of life, two definitive points are:
the start of your life
Some may feel that obtaining an umbrella policy is a waste of money because:
they do not have a high enough net worth to be scared of lawsuits.
According to Dave Ramsey, if you build up a nest egg (assets) and your debts decrease you may not need life insurance.
true
Auto insurance is a package of policies.
true
Dave's criticism of cash value life insurance plans (different types include universal, variable, etc.) is that the savings plans tend to have lower returns because of fees.
true
Godin says if a company can write down a job description, lots of small tasks, they can hire someone cheaper than you and the solution is to be the one and only, be unique.
true
In comparison to most other forms of insurance coverage, the size of the annual premium for umbrella insurance is quite affordable.
true
In the event of a loss, the homeowner receives a payment from the pool.
true
Insurance rates fall when your age crosses 25 years old because young drivers tend to have more wrecks.
true
It is quite common for homeowner's insurance policies to provide some coverage for medical payments incurred by guests who visit your home.
true
It is quite common for renter's insurance policies to provide some coverage for liability payments for guests who visit your apartment.
true
Legacy is all about looking forward.
true
No deductibles are assessed to insured parties under the comprehensive portion of Part D auto insurance.
true
On a phone interview you can have notes in front of you.
true
One way to transmit wisdom is to protect heirs from stupidity of being young.
true
Purchasing insurance effectively allows us to pay the expected loss on our property without the risk of paying for a complete loss.
true
The coverage provided under Part B for Medical Payments is considered to be no-fault coverage.
true
This course is all about using financial resources wisely. However, reducing the limits of coverage on your personal auto policy in order to save premiums is probably not the best strategy.
true
Umbrella Insurance is general insurance against lawsuits and other misc claims against you.
true
Umbrella insurance costs about $20 per month for a $1m of coverage.
true
Umbrella insurance covers you if you are sued for a business related accident.
true
When practicing for interviews, it makes sense to write out your answers to expected questions.
true
You are doing your family, friends, and children a disservice by not declaring who will be their guardian if you pass away.
true
You must have liability coverage.
true
You will be allowed to do more if you are willing to give away credit.
true
cash value life insurance is a policy that includes life insurance and builds up a savings account as well.
true
young males have more accidents
true
A ____ is traditionally used for minimizing estate taxes and can offer other benefits by allowing a third party to hold assets.
trust
The amount you have to pay for insurance (your premium) depends on: (check all that apply, hint: there are 10)
type of car location of residence driving record how much you drive marital status gender experience owner or renter? credit score age
Which insurance covers you in the event you lose a lawsuit (i.e. for someone tripping in your front lawn and breaking their ankle.)?
umbrella
One way to keep from impulse purchasing a new car is to:
wait to make the decisions
a will
who should handle the process/cleaning up (the executor) can declare guardianship of kids says what should happen to your property
Assume you just graduated from school and are renting an inexpensive apartment somewhere to leave some stuff while you backpack through Europe using your graduation money (hey, we can dream can't we?) and your laptop gets stolen, would renters insurance cover it?
yes
Do most homeowners policies cover a tool shed?
yes
Nicole lives in a home which has an estimated market value of $310,000 and an estimated lot value (i.e., land) of $80,000. Nicole's policy provides insurance coverage of $240,000. Does Nicole appear to have sufficient coverage?
yes
Should most of us who "own" a home, have homeowners insurance?
yes
While he doesn't say it directly in this video, is the idea behind Dave's rant to keep your insurance and investments separate? Use insurance to cover potential losses (such as income in the event of your death) and invest for the future in investment accounts designed to maximize returns an limit fees?
yes
does your insurance cover others driving your car?
yes
Can you qualify for survivor or spousal benefits if you are divorced?
yes,if married for 10 years
Even the best developed career planning often does not work out, which leads some to conclude that:
you should ask yourself what you want to do next?
The best reason to consider obtaining an umbrella insurance coverage policy is that:
your liability coverage through other policies is very low.
Teresa Walker's discussion of the need to "customize" is a reference to:
your resume and cover letter.
While state laws vary, if you pass away without a will, typically your stuff goes to:
your spouse.
