__________ Is an Aspect of Problem Solving During Which the Person

question 7

Multiple Choice

__________ is an aspect of problem solving during which the person encodes the problem and formulates a general strategy for attacking the problem.

• A)Fluid planning
• B)Crystallized planning
• C)Global planning
• D)Local planning

---

Definitions:

Whole-Life Insurance

Life insurance that provides protection for the entire life of the insured person.

Cash-Surrender Value

The amount an insurance policyholder receives upon cancellation of a contract before its maturity or an insured event occurs.

Moral Hazard

The situation in which one party is more likely to take risks because another party bears the cost of those risks.

Deductibles

The amount an insured person is required to pay out of pocket before an insurance company covers any expenses.