3. Assume you purchase an insurance policy for your parents that provides you a payout if they die. Your parents are the ________ and you are the ________.

A) insured; beneficiary

B) beneficiary; premium payer

C) policy owner; insured

D) policy owner; beneficiary

4. Deciding which bank you will use to finance the acquisition of a motor vehicle falls under which stage of SMART buying?

A) Differentiate want from need.

B) Do your homework.

C) Make your purchase.

D) Maintain your purchase.