Unit 6 -Estate Planning

Unit 6 -Estate Planning

Assessment

Flashcard

Social Studies

11th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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20 questions

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1.

FLASHCARD QUESTION

Front

When Carson dies, he wants to provide income for his spouse that is not taxed at the time of his death. What can Carson create that is MOST likely to make this happen? Options: a living will, a power of attorney, a trust, a simple will

Back

a trust

2.

FLASHCARD QUESTION

Front

What is NOT an example of a contract? Options: a rental lease, a report card, a credit card agreement, a cell phone plan

Back

a report card

3.

FLASHCARD QUESTION

Front

What is the legal document detailing the type of medical care a person wishes to receive in the event they become incapacitated due to a physical or mental illness?

Back

living will

4.

FLASHCARD QUESTION

Front

What is TRUE about permanent life insurance?

Back

The cash value of the insurance increases as the premiums accumulate.

5.

FLASHCARD QUESTION

Front

When creating their will, Steph and Freida had a difficult time deciding who would carry out its instructions. What person were they struggling to designate?

Back

an executor

6.

FLASHCARD QUESTION

Front

Malik’s father recently died. His dad had an insurance policy, so Malik received $20,000 from this policy. Which type of insurance does this MOST likely represent?

Back

life insurance

7.

FLASHCARD QUESTION

Front

Jeannine has recently purchased a home. She purchased an insurance policy that protects it against fire, flood, and hurricane damage. Jeannine is protecting herself from which type of risk?

Back

property risk

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