In Planning Your Insurance Program, You Should

question 68

Multiple Choice

In planning your insurance program, you should

• A)seek advice from a competent financial adviser.
• B)determine what insurance is required.
• C)consider social security and other group insurance.
• D)decide what type of insurance best meets your needs.
• E)seek advice from a competent financial adviser, determine what insurance is required, consider social security and other group insurance, and decide what type of insurance best meets your needs.

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Definitions:

Central Planning

A system of economy in which all choices about the creation and allocation of goods and services are made by the government or a central body.

Capitalist Form

A socio-economic system characterized by private ownership of capital goods, investments determined by private decision, and prices, production, and the distribution of goods determined mainly by competition in a free market.

Mixed Economy

An economic system combining private and public enterprise.

Private Sector

Refers to the part of the economy that is run by individuals and companies for profit and is not state controlled.