BUSI 352 : QUIZ 1 – 8 TEST BANK (2019/20) Questions and Answers

BUSI 352 : QUIZ 1 – 8 TEST BANK (2019/20)  Question 1 2 out of 2 points Someone who has a terminal illness shoud consider the following: 1- Prepare or update personal financial statements 2- Review named beneficiaries of life insurance and retirement plans 3- Sign a Do Not Resuscitate (DNR) order 4- Consider oragan donation 5- Review funeral and burial arrangements Selected Answer: 1, 2, 4, and 5  Question 2 2 out of 2 points Failing to discover hidden assets is a common mistake made in a divorce? Selected Answer: True  Question 3 2 out of 2 points Which if the following is NOT a recommendation for someone who receives a financial windfall? Selected Answer: Invest in a new business you have always wanted to start  Question 4 2 out of 2 points Some studies have suggested that up to 70% of lottery winners lose their winnings within as short as a seven-year period. What are some of the reasons that might cause this or cause others who have come into a wind fall to lose it? Selected Answer: All of the above.  Question 5 2 out of 2 points Approximately how any families are raising one or more children with a disability? Selected Answer: More than two million  Question 6 2 out of 2 points According to the textbook, what percentage of lottery winners spent 100% of their winnings within 5 years? BUSI 352 : TEST BANK (2019/20) • Question Selected Answer: 44%  Question 7 2 out of 2 points Which of the following are sources of information about benefits for special needs dependents? 1- Social Security website 2- The Arc 3- United Health Care Children Foundation 4- Easter Seals Selected Answer: 1, 2, 3, and 4  Question 8 2 out of 2 points Terminal illness can be devastating for a family. Which of the following is not correct? Selected Answer: The emotional issues are not relevant to the financial advisor.  Question 9 2 out of 2 points How many months of income is the recommended amount (in general) to be accumulated in an emergency fund? Selected Answer: 3-6 months