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58. Most people select a place of residence based on available financial resources, needs, and lifestyle. 59. Financial guidelines suggest that you should "spend no more than 10 to 20 percent of your take home pay on housing". 60. Opportunity costs of housing can refer to time and effort involved in finding.
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11. A cooperative housing arrangement involves A. government­supported rental units. B. a nonprofit organization. C. individual ownership of a living unit in a building. D. factory built and on­site assembly. E. housing units owned by a real estate developer. 12. Brian Pittman rents a living unit as a result of.
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79. Credit life insurance provides for the repayment of the loan if the borrower dies. 80. Most borrowers should buy credit life insurance. 81. The consumer credit laws require that an advance notice be given before repossessing a car. 82. If you are having trouble paying your bills, turn to a company that.
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89. Increasingly, the bankruptcy debtor is likely to be female. 90. For some debtors, bankruptcy has become an acceptable tool of credit management. 91. During the last decade, the personal bankruptcy rate has increased almost 8 percent annually. 92. Your only choice in declaring personal bankruptcy is through an assignment in bankruptcy. 93. You.
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101. Disability benefits begin on the first day you are disabled. 102. Generally, disability income policies with shorter waiting periods have lower premiums. 103. You should seek a disability policy that pays benefits for life. 104. Disability income benefits begin on the 10th day you are disabled. 105. You should aim for a disability.
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87. What events are commonly covered in a homeowner's insurance policy? 88. What factors affect the cost of home insurance? 89. Which type of automobile insurance is usually considered to be most important? 90. A friend wants to understand what affects the cost of auto insurance. Explain the factors used to .
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91. The fact is that for all age groups disability is more likely than death. 92. Most people are more likely to lose their income due to death than due to disability. 93. Individual health insurance covers either one person or family. 94. Long­term­care insurance is a type of supplemental health insurance 95. Disability.
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69. Creditors use the same system to calculate the balance on which they assess finance charges. 70. The fairest method of calculating the interest is the adjusted balance method. 71. The consumer proposal is a maximum five­year plan for paying creditors all or apportion of the total debt owed. 72. The fairest method.
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51. Your home insurance provides for replacement value for personal property losses. A television is stolen. It cost $1,000 two years ago and has an expected life of 5 years. A comparable television costs $500 today. What amount will the insurance company pay? A. $100 B. $150 C. $200 D. .
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99. If you declare bankruptcy, you do not have to pay alimony, child support, or educational loans. 100. The most inexpensive loans available are provided by finance companies, retailers, and banks through credit cards. 101. Credit unions often offer the same range of consumer loans that banks and other financial institutions do. 102..
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158. There are no significant differences in home owner rates when comparing different insurance companies 159. Increased liability insurance is available with an umbrella policy. 160. Voluntary medical payments coverage in a home insurance policy is designed to pay for legal action taken against a homeowner who may be legally responsible for.
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111. Which of the following insurance policy provisions requires that the insured must pay for part of the loss of a claim if the property is not insured for the specified percentage of replacement value? A. personal property floater B. an endorsement C. assigned risk clause D. umbrella coverage E..
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11. The method of determining life insurance requirements that does not ignore such important factors as emergency funds and your liquid assets is called the A. easy method. B. "family need" method C. DINK method. D. "nonworking" spouse method. E. hard method. 12. Which of the following statements is correct for.
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41. Lenders commonly use a TDS ratio of                   and a GDS ratio of                     to help determine the amount most people can comfortably afford for housing. A. 20%? 30% B.  40%? 20% C.  40%? 30% D. 30%? 20% E. 20%? 40% 42. Given the following, calculate the GDS.
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148. The purpose of insurance is to help protect you and your family against financial hardship due to hazard, accident, death, and the like. 149. Personal risks, property risks, and liability risks are types of speculative risks. 150. Risk management is not an organized strategy for protecting and conserving assets and people. 151..
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81. Critical illness benefits are usually added by riders to new or existing policies. 82. The price of life insurance policies varies very little among life insurance companies. 83. An interest­adjusted index is a method of evaluating the cost of life insurance by taking into account the time value of money. 84. With.
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111. Basic health insurance coverage should include hospital costs, supplementary prescription drug charges, and dental maintenance. 112. Canadian consumers are generally unaware that long­term care insurance even exists. 113. A co­payment provision requires the policyholder to share the expenses beyond the deductible amount. 114. A deductible is the amount the policyholder must pay.
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21. Which of the following insurance policy provisions requires that the insured must pay for part of the loss of a claim if the property is not insured for the specified percentage of replacement value? A. personal property floater B. an endorsement C. assigned risk clause D. umbrella coverage E..
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68. There are no significant differences in home owner rates when comparing different insurance companies 69. Increased liability insurance is available with an umbrella policy. 70. Voluntary medical payments coverage in a home insurance policy is designed to pay for legal action taken against a homeowner who may be legally responsible for.
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41. The premium for non­cancelable and guaranteed renewable disability income insurance is higher, A. therefore, younger people should skip these coverages. B. hence, the insurance companies enjoy better profit margins. C. therefore, very few older workers should carry these coverages. D. but the coverages are well worth the extra cost E..
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177. What events are commonly covered in a homeowner's insurance policy? 178. What factors affect the cost of home insurance? 179. Which type of automobile insurance is usually considered to be most important? 180. A friend wants to understand what affects the cost of auto insurance. Explain the factors used .
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58. The purpose of insurance is to help protect you and your family against financial hardship due to hazard, accident, death, and the like. 59. Personal risks, property risks, and liability risks are types of speculative risks. 60. Risk management is not an organized strategy for protecting and conserving assets and people. 61..
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109. Referring to over indebtedness as one of the nation's main family financial problems, an expert on consumer affairs lists 7 frequent reasons for indebtedness. List and briefly describe these. 110. In regards bankruptcy and insolvency, briefly define a consumer proposal. Who is eligible for this type of insolvency protection application? .
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51. The term "sub­prime mortgage crisis" refers to A. the difficulty new home owners have in negotiating a low interest rate with banks B. obtaining a mortgage interest rate of 8 percent instead of 7 percent C. the financial crisis precipitated in 2007 after a sharp increase in mortgage foreclosures D..
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141. Your home insurance provides for replacement value for personal property losses. A television is stolen. It cost $1,000 two years ago and has an expected life of 5 years. A comparable television costs $500 today. What amount will the insurance company pay? A. $100 B. $150 C. $200 D. .
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61. Canadians are amongst the least life­insured people in the world. 62. Most people buy life insurance to protect someone who depends on them from financial losses caused by their death. 63. The principle of home insurance can be applied to the lives of persons. 64. Single persons living alone have little or.
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