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BUSI 223 QUIZ 8

BUSI 223 QUIZ 8

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Question 1 3.5 out of 3.5 points
A trust that provides continuity and management of asset management and allows assets to bypasses probate, but which provides no income or estate tax advantages, is a(n) ____ trust.

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Question 2 3.5 out of 3.5 points
A power of attorney allows an individual to write a will.

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Question 3 3.5 out of 3.5 points
You would most likely purchase an annuity from a bank.

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Question 4 3.5 out of 3.5 points
Will works for Micro Lance Computer Company and participates in its thrift and savings plan. For every $1.00 Will contributes to the plan, up to 5 percent of his salary, the company contributes $0.25. If Will's salary is $40,000 and he decides to maximize the matching contributions, how much will be contributed to Will's plan in a year by both the employer and Will?

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Question 5 3.5 out of 3.5 points
More damage is done to estates by doing nothing than by doing the wrong thing.

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Question 6 3.5 out of 3.5 points
By itself, social security is sufficient to allow a worker and spouse to maintain their preretirement standard of living.

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Question 8 3.5 out of 3.5 points
It is extremely wise to contribute at least as much to a 401(k) plan as one's employer will match.

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Question 9 3.5 out of 3.5 points
Requirements for a valid will do not include

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Question 10 3.5 out of 3.5 points
The biggest mistake when it comes to retirement planning is to:

 
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