Insurance, Estate and Wills

George signed a document giving his wife permission to act on his behalf during his illness. Which term identifies the type of document George signed?

• Common law

• Power of attorney

• LAWYER

• Executrix

After John dies, his family discovers he DOES NOT have a will. The court then appoints someone to carry out the will. What term is used to identify this person?

• Administrator

• Executor

• Executrix

• Testator

Johnny has been named the representative on his sister’s estate. After giving public notice of the estate and paying valid claims, what must he now do?

• Give out the property accordingly

• Give the estate to anybody

• Inheritance

• SELL ALL OF THE PROPERTY

Johnny has been named the representative on his sister’s estate. After giving public notice of the estate and paying valid claims, what must he now do?

• Give out the property accordingly

• Give the estate to anybody

• Inheritance

• SELL ALL OF THE PROPERTY

After Rachel dies, her son takes her will to a lawyer. The executor must then distribute her estate according to which type of law?

• State

• CITY

• Witnesses

Maria’s mother dies. Maria is left with her mother’s car and house. What are the car and house considered?

• Inheritance

• HEIR

• Witnesses

Bobby’s uncle dies. Bobby received his uncle’s mansion. What term describes Bobby in this scenario?

• HEIR

• Fiduciary

• Beneficiary

• ATTORNEY

A DOCUMENT THAT IS SIGNED DURING YOUR LIFETIME THAT DISTRIBUTES YOUR PROPERTY UPON DEATH

• WILL

• POWER OF ATTORNEY

• BEQUEST

• TESTATE

Which types of insurance are most appropriate for a single, working, 24-year-old? (hint: choose 3 correct answers)

• Health insurance

• Disability insurance

• Life insurance

• Auto insurance

What role does insurance play in financial planning?

• It guarantees that income and assets are protected

• It helps build and maintain one's credit score

• It helps cover day-to-day expenses

• It grows in value and appreciates over time