Personal Finance Study Set 15

Business

Quiz 12 :
Life Insurance

Quiz 12 :
Life Insurance

Showing 1 - 20 of 176
Next Quiz
arrow
Most people buy life insurance to protect someone who depends on them from financial losses caused by their death.
Free
True False
Answer:

Answer:

True

arrow
Most American families face a substantial loss when one spouse dies unexpectedly.
Free
True False
Answer:

Answer:

True

arrow
Life insurance is one of the most important and expensive purchases you may ever make.
Free
True False
Answer:

Answer:

True

arrow
Consumer awareness of life insurance has changed little over the years.
True False
Answer:
arrow
Life insurance proceeds may be used to provide an education or income for children.
True False
Answer:
arrow
Life insurance proceeds may be used to provide a retirement income.
True False
Answer:
arrow
Most insurance companies can determine how long a particular person will live.
True False
Answer:
arrow
Single persons living alone usually have little or no need for life insurance.
True False
Answer:
arrow
Households with small children usually have the greatest need for life insurance.
True False
Answer:
arrow
Before you buy life insurance,you should determine whether you really need life insurance.
True False
Answer:
arrow
If your death would cause financial stress for your spouse or children,you should consider purchasing life insurance.
True False
Answer:
arrow
Two-earner couples may have a moderate need for life insurance,especially if they have a mortgage or other large debts.
True False
Answer:
arrow
How much insurance one should carry is an important question for every person who owns or intends to buy life insurance.
True False
Answer:
arrow
A life insurance policy puts a price on the life of the insured person.
True False
Answer:
arrow
The easy method of determining life insurance needs is based on the rule of thumb that a "typical family" will need about 70 percent of your salary for seven years.
True False
Answer:
arrow
The DINK method of determining life insurance needs assumes that your spouse will continue to work after your death.
True False
Answer:
arrow
If you have no dependents and your spouse earns as much as you do,you have simple insurance needs.
True False
Answer:
arrow
The "family need" method of determining life insurance needs provides a thorough estimation of your life insurance needs.
True False
Answer:
arrow
Mutual companies issue only nonparticipating policies.
True False
Answer:
arrow
A term insurance policy pays a benefit only if you die during the period that the policy covers.
True False
Answer:
Showing 1 - 20 of 176
Next Quiz