Personal Finance

At the closing of a home purchase, the buyer and seller conducts a walk-through of the property.

False

Blue Cross and Blue Shield are two types of Health maintenance organizations.

False

Each year about 50% of home sales are made by the home's owners

False

Uninsured motorist's protection automatically covers you and your family members as well as damage to the vehicle itself.

False

When Brett's apartment lease ends, he should receive his entire security deposit back even though the carpet has been damaged while he was living there.

False

Which of the following should reduce your auto insurance premium?

Maintain good grades in college

Walt has decided to sell the home he has lived in for 50 years. The house has two bedrooms on the first floor, a finished basement, and a finished attic with a low ceiling. To prepare his home for sale, he should

Take steps to remove excess furniture to make areas look less cluttered and therefore larger.

Homeowner's insurance covers all of the following except

Theft of jewelry valued at $25,000.

Which of the following expenses is NOT usually incurred by a tenant?

Property taxes.

Marcus can afford a monthly mortgage payment of $900. If he is eligible for a 30-year, 5% mortgage (where the mortgage factor is 5.37), how much of a mortgage loan can he afford?

$167,597.77

Zach is applying for insurance for his new home. Which of the following is correct?

He should insure the building under the replacement value method to receive the full cost of repairing or replacing it.

This health insurance provision sets specific levels of repayment for certain services.

Internal limits

The failure to take ordinary or reasonable care to prevent accidents from happening is called

Negligence.

Katrina was injured in an accident at work. The benefits she will receive to cover part of her income will come from

Worker's compensation.

Which of the following is NOT one of the commonly used general risk management techniques?

risk maximization