Week Three:
1. Why should you never designate minor children as your primary beneficiary, but instead put assets intended for them into a trust?
a. Because they cannot be trusted to manage their own money
b. Because their guardians will likely mismanage the funds
c. Because minors cannot legally inherit money
d. Because the money will be held in probate court for over a year
2. Having a durable power of attorney for health care (PoA) in place is a good idea in the event that
a. your physician may recommend medical treatments that you are not able to afford
b. your family is opposed to some of your wishes or is divided about them
c. you only want certain doctors to treat you in a medical emergency
d. you want the PoA to remain in
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Comprehensive
d. Replacement
7. Life insurance is meant to
a. be the most cost-effective way to protect you and your loved ones for your entire life and after your death
b. provide a vehicle for investing, in addition to insuring your life and protecting those who are financially dependent on you
c. protect those who are financially dependent on you should you pass away before you have had time to build your assets
d. be a cost effective-way to pay money to your beneficiaries without having to pay any income tax on the death benefit
8. In general, how long should you carry insurance to protect your children?
a. Until your youngest child is 18
b. Until you are age 50
c. Until your youngest child is 23
d. For your entire life
9. When it comes to insurance, if you rent your house or apartment, you should
a. purchase insurance that covers both the physical building and your possessions, just as you would if you were a homeowner
b. purchase insurance that covers the actual cost of your possessions but does not cover the building structure
c. make sure that your landlord has insurance that covers the building and your possessions
d. purchase insurance that covers the replacement cost of your possessions but does not cover the building structure
10. Which of the following is a good way to save on your homeowner’s or renter's insurance?
a. Bundle your auto and homeowner's or renter's policies with the same insurer
b. Reduce coverage on your home, but continue to
a) As a part of the society, it is unavoidable to enjoy the power and the privilege while
b. it is necessary in certain circumstance weather there are no rules or rules do not apply or provide little guideline.
B. Choose what you think are the three most important in order, and justify your decisions.
b) It is beneficial for thins such as self preservation and helping us avoid danger and
C. Humans only have a natural obligation to care for other humans in need. [From P4 and P5].
3. (TCO A) Property taxes on a company's factory building would be classified as a(n): (Points : 6)
In these situations, every reasonable step should be taken to prevent further damage to a resident’s possessions, particularly if there is some question of liability on the part of the Owner concerning the cause of the damage. If you are in any doubt about what, if any, procedures should be taken to protect the property of an absentee resident, consult the Owner.
About 20% of all insurance claims are related to water damage of some kind. Whether it is because of foundation cracks, rotted wooden beams, or expenses related to flooding, these claims are quite expensive. What many homeowners do not realize is that water damage can
d. Is it more beneficial to continue leasing the business space or to buy the building?
B. My answer would be different because cancer is a disease that can’t always be averted, alcoholism can’t always be prevented as well, but for the majority of cases it could have been. Those who suffer from alcoholism, should be treated with counseling and medical attention. More lives have been lost from cancer than from alcoholism. "The needs of the many outweigh the needs of the few"
Typically covers repairing or replacing your damaged or destroyed home, including attachments, such as garages or decks.
Ordinance or law coverage will give you money for additional costs to rebuilt or repair a structure to make it meet building codes after it has been damaged. Many such policies are limited, but an endorsement can make it possible to increase your coverage.
Having a landlord insurance that will cover emergency repairs will be very useful. The reason being that emergency repairs can happen at any time and you would not like to delay due to financial constraints and inconvenience to your tenants. These type of insurances generally will tend to the gas leak, water burst or even pest infestation sorted out within 24 hours and covering every day of the year.
(2) To the extent that the condominium documents expressly so provide, any other unusual common expenses benefiting less than all of the condominium units, or any expenses incurred as a result of the conduct of less than all those entitled to occupy the condominium project or by their licensees or invitees, shall be specially assessed against the condominium unit or condominium units involved, in
2. When a person already is the owner of a structure, but really wants to know the health of their building, enabling these to take preventative care measures or reexamine their investment.