ABA CTFA Practice Test - Questions Answers, Page 35
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A method of calculating interest by computing finance charges on the original loan balance and then adding the interest to that balance.
Credit life or disability insurance is:
Sometimes, as a condition of receiving an installment loan, a borrower is required to buy credit life insurance. From borrower's perspective, credit life insurance not a good deal because:
An activity that reduces the probability that a loss will occur is called:
Loss control is an activity that:
Underwriting directly affects an insurance company's chances of success. If underwriting standards are too high, then people will be unjustly denied insurance converge and insurance sales will:
Just as with other aspects of personal financial planning, life insurance decision can be made easier by following a step-by-step approach. You will need to answer some questions. Which of the following is/are Not out of those questions?
Life insurance is intangible. You can't see, smell, touch or taste its benefits and those benefits mainly happen when someone is died. However, life insurance does have some important benefits that should not be ignored in the financial planning process. Which of the following is out of those benefits?
A method of determining the amount of life insurance coverage needed by multiplying gross annual earnings by some selected number is called:
According to multiple of earnings method, the rule of thumb used by many insurance agents is that your insurance coverage should be equal to 5 to 10 times your current income. For example, if you currently earn $70,000 a year, using the multiple of earning method then you need between:
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