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Question 1 of 10
1. Question
Which of the following statements best describes human capital?
Correct
Having considered human capital as something of an asset with its own risk and return attributes, we should build a comprehensive investment plan that incorporates those assets. Also, an overall wealth outlook will help to develop a policy that maximizes household wellbeing by balancing human resources with financial capital and integrating the idea of life-cycle planning
Incorrect
Having considered human capital as something of an asset with its own risk and return attributes, we should build a comprehensive investment plan that incorporates those assets. Also, an overall wealth outlook will help to develop a policy that maximizes household wellbeing by balancing human resources with financial capital and integrating the idea of life-cycle planning
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Question 2 of 10
2. Question
Individuals who want to buy a house in real estate will need to get a mortgage loan. For how many years can a mortgage loan can vary?
Correct
The greatest fixed obligation of homeowners will be mostly mortgage payments, particularly in the initial years of a mortgage loan, because it is usually one of the largest assets held by a person. They pose a particular danger for homeowners when they build a leveraged exposure in their homes
Incorrect
The greatest fixed obligation of homeowners will be mostly mortgage payments, particularly in the initial years of a mortgage loan, because it is usually one of the largest assets held by a person. They pose a particular danger for homeowners when they build a leveraged exposure in their homes
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Question 3 of 10
3. Question
Which of the following is not a part of the four key steps in the risk management process for individuals?
Correct
Primarily, this would be the method of determining the risks to each valuation of household properties, together with an effective plan for coping with such risks. The tactics serve as a mechanism that enables the household to determine whether to prevent, reduce, move or self-insure certain risks
Incorrect
Primarily, this would be the method of determining the risks to each valuation of household properties, together with an effective plan for coping with such risks. The tactics serve as a mechanism that enables the household to determine whether to prevent, reduce, move or self-insure certain risks
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Question 4 of 10
4. Question
This is a financial stage of life where a certain person starts to invest in expertise through structured education or skills acquisition. Which of the following stages matches this definition?
Correct
Most people in this period are primarily dependent on their parents, guardians and have only a limited amount of accumulated financial resources. In comparison, most people at this stage do not rely on saving or risk management, because this is a point where they primarily research and learn plenty of the information expected in the future
Incorrect
Most people in this period are primarily dependent on their parents, guardians and have only a limited amount of accumulated financial resources. In comparison, most people at this stage do not rely on saving or risk management, because this is a point where they primarily research and learn plenty of the information expected in the future
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Question 5 of 10
5. Question
In what age range does the career development normally occur in which it is the time for specific skill developments, upward career mobility as well as income growth?
Correct
This stage would be where the main question around retirement benefit preparation and financial stability is heightened. However, most of the industry’s high earners continue with wealth creation, retirement accounts, and big acquisitions like holiday homes, or travel a lot
Incorrect
This stage would be where the main question around retirement benefit preparation and financial stability is heightened. However, most of the industry’s high earners continue with wealth creation, retirement accounts, and big acquisitions like holiday homes, or travel a lot
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Question 6 of 10
6. Question
From a personal financial planning standpoint, which of the following are the typical characteristics of an individual in the phase of Peak Accumulation?
Correct
Accumulation of funds towards goals and objectives may be included in this stage, but it really is mainly a continuum of planning for retirement revenue, strategies, and travel. However, there may well be a career risk during this point, and once a person has lost his or her employment, it may be more difficult for that individual to pursue other positions with equal pay
Incorrect
Accumulation of funds towards goals and objectives may be included in this stage, but it really is mainly a continuum of planning for retirement revenue, strategies, and travel. However, there may well be a career risk during this point, and once a person has lost his or her employment, it may be more difficult for that individual to pursue other positions with equal pay
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Question 7 of 10
7. Question
Which of the following statements best describes the difference between the traditional and the economic balance sheet?
Correct
The overall economic value of a person has changed over his/her lifetime, together with the underlying properties. Younger people have still not had just as much time to invest and accumulate financial resources as they rely primarily on growth, but as these individuals get older, they are likely to save more of their earnings and accumulate their financial capital
Incorrect
The overall economic value of a person has changed over his/her lifetime, together with the underlying properties. Younger people have still not had just as much time to invest and accumulate financial resources as they rely primarily on growth, but as these individuals get older, they are likely to save more of their earnings and accumulate their financial capital
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Question 8 of 10
8. Question
Which of the following elements is not a part of the life insurance policies?
Correct
In addition, in order for the life insurance policy to be legitimate, the policy owner generally should have an insurable stake in the life of the insured. The existence of insurable interest is also also a fundamental feature of the insurance policy
Incorrect
In addition, in order for the life insurance policy to be legitimate, the policy owner generally should have an insurable stake in the life of the insured. The existence of insurable interest is also also a fundamental feature of the insurance policy
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Question 9 of 10
9. Question
What is the concept of insurable interest for life insurance?
Correct
This will prohibit people from entering the lives of strangers and eliminates any motive to accelerate the death of the insured citizen. Insurable interest means that the policy owner would gain some kind of income from the continued life of the person that would be adversely impacted if the individual were to pass away
Incorrect
This will prohibit people from entering the lives of strangers and eliminates any motive to accelerate the death of the insured citizen. Insurable interest means that the policy owner would gain some kind of income from the continued life of the person that would be adversely impacted if the individual were to pass away
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Question 10 of 10
10. Question
Which of the following are the relevant elements of life insurance planning?
Correct
There are several other aspects that influence how life insurance is priced by the insurer, and there are many other different types of life insurance plans. While the particulars of the approximate estimates are outside the context of this reading, it is important to consider the fundamental principles of life insurance pricing, which are death expectations, discount rates, and loading
Incorrect
There are several other aspects that influence how life insurance is priced by the insurer, and there are many other different types of life insurance plans. While the particulars of the approximate estimates are outside the context of this reading, it is important to consider the fundamental principles of life insurance pricing, which are death expectations, discount rates, and loading