Subject: Personal Finance

- for the calculation question, please give me a detail calculation answer.

- for the essay question, please give me a good formatting.

THANK YOU SO MUCH

Case study 1: Home and Automobile Insurance Newlyweds Zakiah and Razali have had several milestones in the past year. They are newlyweds, recently purchased their first home and now have twins on the way! Zakiah and Razall have to seriously consider their insurance needs. A family, a home and now babies on the way, they need to develop a risk management plan to help them should an unexpected event arise. Current Financial Situation: Assets (Zakiah and Razali combined): Checking account: RM4,300 Savings Account: RM22.200 Emergency Fund savings account: RM20.500 Retirement Account balance:RM26.000 Car: RM10,000 (Zakiah) and RM18,000 (Ravall) Liabilities (Zakiah and Razali combined): Student loan balance:RMO Credit Card Balance: RM2,000 Car Loans RM6,000 Income: Zakiah: RM50,000 gross income (RM37.500 net income after taxes) Razali: RM75,000 gross income (RM64,000 net income after tas) Monthly Expenses (combined): Mortgage RM1.252 Property Taxes and Insurance: RM500 Utilities: RM195 Food: RM400 Gas/Maintenance:RM275 Credit Card Payment: RM250 Car Loan Payment: RM289 Entertainment: RM300 Questions 1. Based on their current life status what are some of the goals Zakiah and Razali should set to achieve when developing their insurance plan? 2 What four questions should Zakiah and Razali ask themselves as they develop the risk management plan? 3. Once Zakiah and Razali put their insurance plan in to action what should they do to maintain their plan? 4. Zakiah and Razali decided to conduct a check-up on their homeowner's insurance policy. They noticed that they had omitted covering Zalcal's diamond wedding band set from their policy. What if it got lost or stolen? It was a major purchase and beside the emotional value, the cost to replace the diamond jewellery would be very high. 5. What type of policy should Zakiah and Razali consider covering the diamond wedding rings? 6. Mr. Ferrell, Zalciah and Razall insurance agent suggested a flood insurance policy in addition to their regular homeowner's policy. Zaidiah and Razali looked quizzically at the agent, as they do not live within two miles of a body of water. 7. What is the basis for Mr. Ferrell's claim for the necessity of the flood policy? & Considering the value of Zakiah and Razall'automobiles, what type of automobile insurance coverage would you suggest for them? 9. What financial strategy would you suggest to Zakiah and Razali to enable them to save money on their insurance premiums? Case study 1: Home and Automobile Insurance Newlyweds Zakiah and Razali have had several milestones in the past year. They are newlyweds, recently purchased their first home and now have twins on the way! Zakiah and Razall have to seriously consider their insurance needs. A family, a home and now babies on the way, they need to develop a risk management plan to help them should an unexpected event arise. Current Financial Situation: Assets (Zakiah and Razali combined): Checking account: RM4,300 Savings Account: RM22.200 Emergency Fund savings account: RM20.500 Retirement Account balance:RM26.000 Car: RM10,000 (Zakiah) and RM18,000 (Ravall) Liabilities (Zakiah and Razali combined): Student loan balance:RMO Credit Card Balance: RM2,000 Car Loans RM6,000 Income: Zakiah: RM50,000 gross income (RM37.500 net income after taxes) Razali: RM75,000 gross income (RM64,000 net income after tas) Monthly Expenses (combined): Mortgage RM1.252 Property Taxes and Insurance: RM500 Utilities: RM195 Food: RM400 Gas/Maintenance:RM275 Credit Card Payment: RM250 Car Loan Payment: RM289 Entertainment: RM300 Questions 1. Based on their current life status what are some of the goals Zakiah and Razali should set to achieve when developing their insurance plan? 2 What four questions should Zakiah and Razali ask themselves as they develop the risk management plan? 3. Once Zakiah and Razali put their insurance plan in to action what should they do to maintain their plan? 4. Zakiah and Razali decided to conduct a check-up on their homeowner's insurance policy. They noticed that they had omitted covering Zalcal's diamond wedding band set from their policy. What if it got lost or stolen? It was a major purchase and beside the emotional value, the cost to replace the diamond jewellery would be very high. 5. What type of policy should Zakiah and Razali consider covering the diamond wedding rings? 6. Mr. Ferrell, Zalciah and Razall insurance agent suggested a flood insurance policy in addition to their regular homeowner's policy. Zaidiah and Razali looked quizzically at the agent, as they do not live within two miles of a body of water. 7. What is the basis for Mr. Ferrell's claim for the necessity of the flood policy? & Considering the value of Zakiah and Razall'automobiles, what type of automobile insurance coverage would you suggest for them? 9. What financial strategy would you suggest to Zakiah and Razali to enable them to save money on their insurance premiums