11. Mary died with a $200,000 life insurance policy. Her husband Jack was the primary beneficiary and their children, Mimi and Ann, were the contingent beneficiaries. All three survived Mary. How would the policy proceeds be distributed? a) $200,000 to Jack b) $100,000 each to Mimi and Ann c) $100,000 to Jack and $50,000 each to Mimi and Ann d) $66,666.66 each to Jack, Mimi, and Ann e) $150,000 to Jack and $25,000 each to Mimi and Ann 12. Bob and Jane are a young couple with two small children. They're doing well financially, but their life insurance needs are high and their budget is tight. What type of life insurance will give them the most protection for their money? a) universal life b) whole life c) term life d) variable life 13. The United States spends about the average of other rich economies on health care despite being one of the unhealthiest populations a) half b) the same as c) twice d) three times 14. A liability suit could result when a) lightning strikes your home b) your son falls down the stairs of your home c) your dog bites the neighbor d) smoke from the fireplace fills your house e) your auto is stolen 15. Section 1 of the homeowners' insurance policy covers a) the dwelling only b) the dwelling and the garage c) liability of an insured d) the dwelling and the insured's personal property e) liability and the dwelling 9. The amount of money in your defined contribution retirement account will depend on a) The age at which you began contributing b) the amount of money you deposit each month c) the rate of return on your investment savings d) all of these e) none of these really make much difference