Flag this Question Question 5 1 pts Because all individuals and families are not

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Question 5

1 pts

Because all individuals and families are not the same, financial goals and

objectives differ. However, which one of the following financial goals would

likely be most important to most individuals and families?

1. Protection of the family and property.

2. Saving for a vacation.

3. Minimizing time until retirement.

4. Building credit.

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Question 6

1 pts

All of the following workers have achieved insured status under the old-age,

Survivors, Disability, and Health Insurance program (OASDHI), EXCEPT:

1. A self-employed worker with 40 credits.

2. A self-employed worker with 6 credits earned in the last thirteen

calendar quarters.

3. Workers who have earned $640 each year during the summer for five

years.

4. Workers who have worked full-time for ten years.

1. Protection of the family and property.

2. Saving for a vacation.

3. Minimizing time until retirement.

4. Building credit.

Explanation / Answer

Question 5

The most important financial goal to most individuals and families is the protection of the family and property. Because, whatever the financial plans to be made by individuals is to protect their family.

Hence, the answer is 1.

Question 6

OASDHI program is not applicable to the seasonal or temporary workers. Hence, workers who have earned $640 each year during the summer for five years cannotachieve insured status under OASDHI program.

Hence, the answer is 3.

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