39. If you intend to purchase a house, what is the minimum percentage of the house price you should have? A. 10% B. 15% C. 20% D. 25% 40. 41. The following cost would be the initial outlay in buying a house EXCEPT: A. Down-payment B. Stamping fee C. Valuation fee D. Renovation. The person named in a life insurance policy to receive the death benefit is called the A. policy holder B. beneficiary C. recipient D. insurance agent The amount you MUST pay out of pocket before insurance takes over is called the A. premium B. bonus payout C. term payment D. deductible Applies to the amount of protection you have through an insurance company in the event of a loss 42. 43 A. Coverage B. Policy C. Claim D. Liability