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WorksheetsRISK MANAGEMENT
Total questions: 10
Worksheet time: 5mins
What is risk management?
Looking both ways before crossing a 2 lane highway.
Auto Insurance
The forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact.
The ability to plan for the future.
What are some risk management devices ?
Saving money in an savings account.
Auto, health, and life insurance.
Applying for a passport.
Co-signing for a loan.
If you are employed, what are some risk management products a job may offer?
Workers compensation
Health Insurance
Disability Insurance
Unemployment insurance
All of the above
In case of a future emergency, what standard is widely recommended ?
Make sure you have two credit cards.
Apply for a loan from your bank or credit union.
Have at least 6 months worth of work income saved in a emergency savings account.
None of the above
What are the main two types of life insurance ?
Whole life and half life.
Term and Whole life.
There is only one type of life insurance.
Term and Partial life.
What is term life insurance.
Term Life insurance last your whole entire life.
Term Life insurance provides coverage for a fixed amount of time.
Term life is the same as whole life insurance.
Term life is another way of saying whole life.
What risk is minimized by titling your assets to a trust?
Probate avoidance
Reducing estate taxes
Avoiding liens and lawsuit from creditors.
Asset protection
All of the above
What is a prenuptial agreement ?
It is an agreement made by a couple before they marry concerning the ownership of their respective assets should the marriage fail.
Is an agreement made by a couple after marriage.
The agreement states that all assets should be split 50/50.
A and C
What products are used for retirement planning ?
IRA
401 K
403 B
All of the above
How can you avoid running out of money during your retirement years ?
Cash flow from real estate investments..
Employment Pension plans and IRA.
Social Security monthly payments
All of the above.
