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Personal Finance Study Set 15
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Personal Finance Study Set 15
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Quiz 12 :
Life Insurance
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Quiz 12 :
Life Insurance
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Most people buy life insurance to protect someone who depends on them from financial losses caused by their death.
Free
True False
Q01
Answer:
Answer:
True
Most American families face a substantial loss when one spouse dies unexpectedly.
Free
True False
Q02
Answer:
Answer:
True
Life insurance is one of the most important and expensive purchases you may ever make.
Free
True False
Q03
Answer:
Answer:
True
Consumer awareness of life insurance has changed little over the years.
True False
Q04
Answer:
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Life insurance proceeds may be used to provide an education or income for children.
True False
Q05
Answer:
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Life insurance proceeds may be used to provide a retirement income.
True False
Q06
Answer:
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Most insurance companies can determine how long a particular person will live.
True False
Q07
Answer:
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Single persons living alone usually have little or no need for life insurance.
True False
Q08
Answer:
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Households with small children usually have the greatest need for life insurance.
True False
Q09
Answer:
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Before you buy life insurance,you should determine whether you really need life insurance.
True False
Q10
Answer:
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If your death would cause financial stress for your spouse or children,you should consider purchasing life insurance.
True False
Q11
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Two-earner couples may have a moderate need for life insurance,especially if they have a mortgage or other large debts.
True False
Q12
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How much insurance one should carry is an important question for every person who owns or intends to buy life insurance.
True False
Q13
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A life insurance policy puts a price on the life of the insured person.
True False
Q14
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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
Q15
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The DINK method of determining life insurance needs assumes that your spouse will continue to work after your death.
True False
Q16
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If you have no dependents and your spouse earns as much as you do,you have simple insurance needs.
True False
Q17
Answer:
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The "family need" method of determining life insurance needs provides a thorough estimation of your life insurance needs.
True False
Q18
Answer:
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Mutual companies issue only nonparticipating policies.
True False
Q19
Answer:
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A term insurance policy pays a benefit only if you die during the period that the policy covers.
True False
Q20
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