LESSON 10: USES OF LIFE INSURANCE

Section 10.1 Review

The Human Life Value Approach has been largely replaced by the more practical Needs Approach.

	a)	True
	b)	False
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Under the Needs Approach, assets and other sources of income are discounted.

	a)	True
	b)	False
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Coverdell Education Savings Account funds are subject to a ______ penalty if the funds are not used for their intended purpose.

	a)	5%
	b)	7%
	c)	10%
	d)	12%
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