LIFC 303 Quiz 3

  1. They myth the author was taught in academia is to use _________ to invest in ________. (pg. 170)
  2. It is wise to keep one’s home mortgage only if they can get the tax deduction.
  3. The author recommends having a home equity loan instead of an emergency fund.
  4. The Mortgage Bankers Association says the average life of a mortgage is about what?
  5. What is something the author has noticed about mortgages?
  6. What was the “Secret Santa” mentioned in the text famous for?
  7. Which of the following statements does the author make regarding money?
  8. Investing begins at which step?
  9. Baby Step Seven is the last step of the Total Money Makeover.
  10. The author does not endorse the use of financial planners because they are not team members and can be described as “sole captains” of their team.
  11. Margarette Thatcher once said, “No one would remember the good Samaritan if he’d only had good intentions; he had money as well.”
  12. It is important to realize while wealth is very fun, it
  13. The author states that if you think managing wealth is evil or carnal, then by default you leave the wealth to evil and carnal people.
  14. Wealth will make you what, according to the text?
  15. According to Proverbs 10:15, a rich man’s wealth can become his walled _____.
  16. If you have a loss due to a flood:
  17. Risk management is an organized plan for protecting yourself, your family, and your property.
  18. Personal liability coverage does NOT cover:
  19. In which circumstances may the right to elect continued coverage under COBRA exist for a covered spouse or dependent?
  20. This health insurance provision sets specific levels of repayment for certain services.
  21. Mildred was diagnosed with terminal cancer and knows that she doesn’t have long to live. Which of the following riders would allow her to receive cash now?
  22. If you change your mind about your insurance policy, you have 60 days to return it to receive a refund of your premium.
  23. Which of the following risks deals with the possibility that bad management, unsuccessful products, or other factors will cause the business to be less profitable than originally anticipated?
  24. At the least, you should keep purchase records of the actual dollar cost of your investments plus any commissions or fees paid.
  25. Investors can typically find more websites about stocks and mutual funds than they can find for bonds.
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  1. LIFC 303 Quiz 3
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