Question 1 Someone who has a terminal illness should 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: Question 2 2 out of 2 points Failing to discover hidden assets is a common mistake made in a divorce? Question 3 2 out of 2 points Which if the following is NOT a recommendation for someone who receives a financial windfall? 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? Question 5 2 out of 2 points Approximately how any families are raising one or more children with a disability? Question 6 2 out of 2 points According to the textbook, what percentage of lottery winners spent 100% of their winnings within 5 years? 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 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? Question 10 2 out of 2 points Two out of seven families (29%) reported at least one family member with a disability. Question 11 2 out of 2 points Trusts are general tools that are beneficial in many financial planning situations. Many trust benefits, such as asset protection and control, are appropriate considerations for a family with a special needs person. Which of the following is generally correct regarding special needs trusts? Question 12 0 out of 2 points What is the estimated number of families in the U.S. raising at least one child aged 5 17 with a disability? Question 13 2 out of 2 points Which of the following is not a financial consideration for divorcing couples? Question 14 2 out of 2 points Which of the following is not a way property can transfer at death? Question 15 2 out of 2 points Which tasks should not be completed by a caretaker of a special needs dependent? Question 1 2 out of 2 points Which tasks should not be completed by a caretaker of a special needs dependent? Question 2 2 out of 2 points Divorce is a very emotional time for those who are going through it and assistance from a financial advisor is generally helpful. Which of the following are common mistakes that are made by those going through divorce? Question 3 2 out of 2 points Trusts are general tools that are beneficial in many financial planning situations. Many trust benefits, such as asset protection and control, are appropriate considerations for a family with a special needs person. Which of the following is generally correct regarding special needs trusts? Question 4 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 Question 5 2 out of 2 points Which is not an important concern of a parent or guardian regarding a special needs dependent? Question 6 2 out of 2 points Approximately how any families are raising one or more children with a disability? Question 7 0 out of 2 points Which of the following is not an example of a special needs situation? Question 8 2 out of 2 points Terminal illness can be devastating for a family. Which of the following is not correct? Question 9 0 out of 2 points Which of the following is not a financial consideration for divorcing couples? Question 10 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 Question 11 2 out of 2 points Providing a good home and maintaining a family is challenging enough without a special needs dependent. However, it becomes much more complicated with a child who is disabled or who has special needs. Which of the following is not correct? Question 12 0 out of 2 points What are three key factors when planning for job loss or job change? 1- 401(k) availability at new employer 2- Cash flows 3- Age 4- Health insurance Question 13 2 out of 2 points One of every four families (25%) with a female head of household and no husband present reported members with a disability. Question 14 2 out of 2 points Which of the following is not a way property can transfer at death? Question 15 2 out of 2 points According to the textbook, what percentage of lottery winners spent 100% of their winnings within 5 years? Question 1 0 out of 2 points Trusts are general tools that are beneficial in many financial planning situations. Many trust benefits, such as asset protection and control, are appropriate considerations for a family with a special needs person. Which of the following is not generally associated with planning for a special needs situation? Question 2 0 out of 2 points Which of the following is not a requirement for a special needs trust under 42 U.S.C. Sec. 1396p(d)(4)(A)? Question 3 0 out of 2 points Which of the following are special circumstances outside a nornmal financial planning engagement? Question 4 0 out of 2 points Approximately how any families are raising one or more children with a disability? Question 5 0 out of 2 points One of every four families (25%) with a female head of household and no husband present reported members with a disability. Question 6 0 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 Question 7 0 out of 2 points Which if the following is NOT a recommendation for someone who receives a financial windfall? Question 8 0 out of 2 points Which of the following is not a special needs trust? Question 9 0 out of 2 points Which of the following is not an example of a special needs situation? Question 10 0 out of 2 points Divorce is a very emotional time for those who are going through it and assistance from a financial advisor is generally helpful. Which of the following are common mistakes that are made by those going through divorce? Question 11 0 out of 2 points Which of the following is not a way property can transfer at death? Question 12 0 out of 2 points Which tasks should not be completed by a caretaker of a special needs dependent? Question 13 0 out of 2 points According to the textbook, what percentage of lottery winners spent 100% of their winnings within 5 years? Question 14 2 out of 2 points Terminal illness can be devastating for a family. Which of the following is not correct? Question 15 0 out of 2 points A letter of intent may include all the following except: Sunday, August 26, 2018 10:35:46 PM EDT Question 1 0 out of 2 points A letter of intent may include all the following except: Question 2 2 out of 2 points Divorce is a very emotional time for those who are going through it and assistance from a financial advisor is generally helpful. Which of the following are common mistakes that are made by those going through divorce? Question 3 0 out of 2 points If properly structured, a third party special needs trusts assets are not counted or considered for the purposes of available benefits for the beneficiary when he or she is being considereed for possible federal, state, and local funds. Question 4 0 out of 2 points The statement, Adam is a very pleasant young man who is interested in animals and is generally skilled with computers might be found in what document? Question 5 0 out of 2 points What are three key factors when planning for job loss or job change? 1- 401(k) availability at new employer 2- Cash flows 3- Age 4- Health insurance &a
