Connor Is Worried That His Health May Soon Deteriorate to the Point

question 178

Multiple Choice

Connor is worried that his health may soon deteriorate to the point where he will no longer be able to take care of his own finances. One way he could ease his mind would be to

• A) name an executor to his will.
• B) prepare a durable power of attorney.
• C) transfer title to all of his real estate and financial assets to a relative he trusts.
• D) invest all of his financial assets into a Keogh plan.

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Definitions:

Monthly Interest Rate

The interest rate applied on a monthly basis to loans or financial accounts, often used to calculate the monthly interest payments or earnings.

Net Savings

The amount of money saved after all expenses have been deducted.

Credit Agency

An organization that evaluates and rates the creditworthiness of individuals or corporations.

Incremental Cash Inflow

Additional cash received as a result of undertaking an investment or project.