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40 Cards in this Set

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  • Back

One of advantages of owning a home?

The growth in equity.

Disadvantage of home ownership?

Limited mobility

Which of the following is deposited with pending institutions for property taxes and insurance?

Escrow Account.

A home loan agreement in which the borrower agrees to make payments that don't go to principle?

Interest on the mortgage.

Which of the following might not be typical contingencies in home owner agreement?

Pets being able to move into home.

What is long term on a specific piece of property?

Mortgage.

What is home loan with an interest rate that can change?

Adjustable rate mortgage.

Affordability of this is one of the most social issues of our time?

Healthcare.

Which country has the highest capital per expenditure of any country in the world?

America.

What can you do to responsibly reduce your healthcare costs?

Increase your exercise.

Most health insurance policies are sold to?

Employers which are then sold to employees.

Which part of his insurance pays for his stay at the hospital?

Hospital expense.

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.

Which is a source of healthcare insurance?

Medicare.

Why do people purchase life insurance?

To support them if a breadwinner dies.

How do insurance companies choose rates?

Mortality table.

Which of the following is common use of life insurance receipts?

All of the above.

Who doesn't need life insurance (has no need for it)?

Single person living alone with parents.

Who has the greatest needs for life insurance?

Household with small children.

What is the method of determining life insurance?

No dependents.

Finical leverage refers to?

Debt.

Illiquidity in real assets mean?

Can not quickly sell.

Which of these defines diversification?

Real asset.

Which of these can be a management problem while investing in real assets?

Maintaining the property.

What type of investment is this for two carat diamonds?

Gems...?

Average individual does this?

I need to save whenever I can, so it can cover my retirement costs.

Which of these is correct about retirement?

All of the above.

Why is financial planning for retirement important?

All of the above.

When you use your house as an annuity for life insurance?

Reverse annuity mortgage.

In a marriage that lasts more than fifteen years, there is what type of split of assets?

50/50.

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.

Estate planning while married involves?

At least two people.

Asset planning has two parts. First part is?

Building your estate.

Which of the following is part of estate planning?

All of the above.

Which of the following is an important document for estate planning?

Certification of birth.

Someone owns home worth certain amount of money. What is that?

Estate.

Someone created a document that splits up assets between children and wife after death. What is that?

Will.

Person who will follow your will is?

Executor.

Person who resumes responsibilities of children is called?

Guardian.

Legal document allowing someone to act on your behalf is called?

Power of attorney.