BURU b) Low income d) Occupation Question 3 (1 point) Not all individuals will be able to declare "Chapter 7" bankruptcy because a) they do not have enough assets c) they have too much income b) they do not have enough income d) they have no assets Question 4 (1 point) With a Variable Life Insurance policy al there is no "cash value". C. P 302 C. Xuestion 30 (1 point) You are the type of person who never manages to save any money. Your friend told you about a type of life insurance that also offers a saving or investment feature. What type of policy should you look at? Term life c) Universal life b) Whole life d) Both B and C are correct. P325 5,9 Question 31 (1 point) c) none of the above C.9 Question 33 (2 points) Adriana wants to provide income for her parents for 10 years should she die, Adriana carns $80,000 and foels that her parents could live on 60% of her current income. If the insurance funds could be invested at 6%, how much life insurance does Adriana need? Show all work for credit. Amount required 20000 x 60% - PV 66 10 years Annual rate = 6% 10 26 26 Question 35 (4 points) Suppose an individual has $62,500 in annual income and considering a home that they intend to finance with a $175,000 mortgage at 5% APR 30-year fixed rate loan, the real estate taxes and insurance are $2,500 per year, auto payments are $300/month, and student loans payments are $350/month(1) Calculate the two qualification ratios. (2) Would this individual qualify for this loan using a standard 28/36 ratio criteria? Show all work for credit 7 Front end ratio Back end ratio Creo answered part 2