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40 Cards in this Set
- Front
- Back
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One of advantages of owning a home? |
The growth in equity. |
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Disadvantage of home ownership? |
Limited mobility |
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Which of the following is deposited with pending institutions for property taxes and insurance? |
Escrow Account. |
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A home loan agreement in which the borrower agrees to make payments that don't go to principle? |
Interest on the mortgage. |
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Which of the following might not be typical contingencies in home owner agreement? |
Pets being able to move into home. |
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What is long term on a specific piece of property? |
Mortgage. |
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What is home loan with an interest rate that can change? |
Adjustable rate mortgage. |
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Affordability of this is one of the most social issues of our time? |
Healthcare. |
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Which country has the highest capital per expenditure of any country in the world? |
America. |
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What can you do to responsibly reduce your healthcare costs? |
Increase your exercise. |
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Most health insurance policies are sold to? |
Employers which are then sold to employees. |
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Which part of his insurance pays for his stay at the hospital? |
Hospital expense. |
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Each year someone must pay a certain amount of money, and after that they don't have to pay anymore, what is that called? |
A deductible. |
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Which is a source of healthcare insurance? |
Medicare. |
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Why do people purchase life insurance? |
To support them if a breadwinner dies. |
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How do insurance companies choose rates? |
Mortality table. |
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Which of the following is common use of life insurance receipts? |
All of the above. |
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Who doesn't need life insurance (has no need for it)? |
Single person living alone with parents. |
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Who has the greatest needs for life insurance? |
Household with small children. |
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What is the method of determining life insurance? |
No dependents. |
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Finical leverage refers to? |
Debt. |
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Illiquidity in real assets mean? |
Can not quickly sell. |
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Which of these defines diversification? |
Real asset. |
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Which of these can be a management problem while investing in real assets? |
Maintaining the property. |
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What type of investment is this for two carat diamonds? |
Gems...? |
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Average individual does this? |
I need to save whenever I can, so it can cover my retirement costs. |
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Which of these is correct about retirement? |
All of the above. |
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Why is financial planning for retirement important? |
All of the above. |
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When you use your house as an annuity for life insurance? |
Reverse annuity mortgage. |
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In a marriage that lasts more than fifteen years, there is what type of split of assets? |
50/50. |
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Someone knows what assets, liabilities, and all sources of income; still has money left over. What is happening here? |
Developing a balanced budget based on retirement income. |
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Estate planning while married involves? |
At least two people. |
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Asset planning has two parts. First part is? |
Building your estate. |
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Which of the following is part of estate planning? |
All of the above. |
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Which of the following is an important document for estate planning? |
Certification of birth. |
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Someone owns home worth certain amount of money. What is that? |
Estate. |
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Someone created a document that splits up assets between children and wife after death. What is that? |
Will. |
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Person who will follow your will is? |
Executor. |
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Person who resumes responsibilities of children is called? |
Guardian. |
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Legal document allowing someone to act on your behalf is called? |
Power of attorney. |
