1. The process of preparing for what happens to your accumulated wealth, and your dependents after you die is called ______.

1. asset preparation
2. probate planning
3. will preparation
4. estate planning
5. estate preparation

2. The disadvantage of actual cash value coverage of personal property compared to replacement cost coverage is that it

1. does not have to be reported as a loss on your tax return.
2. will reimburse you only for the unused value.
3. none of the choices listed.
4. Will reimburse you for the cash value of a new item.
5. Must be reported as a loss on your tax return.

3. The difference between an investment and speculation is that an investment ______ while speculation depends on ______ to produce results.

1. costs less; the economic conditions
2. depends on supply and demand; generating a return
3. costs less; generating a return
4. depends on supply and demand; the economic conditions
5. generating a return; supply and demand