Jim and Jackie are married with three children at home and a mortgage. Jim’s net pay per year is $67,000 and Jackie does not have income. Their mortgage payment of $2,800 includes insurance on their home. They have additional monthly expenses of $2,700. Jim contributes 15% of his earnings to a retirement fund and they have $5,000 in savings. There is a $500,000 life insurance policy on Jim and a $100,000 policy on Jackie.

As their financial advisor, what part of Jim and Jackie’s financial plan would you encourage them to work on?
a.
They should work on their plan for managing income.
b.
They should work on their plan for managing their liquidity.
c.
They should work on their plan for protecting their assets.
d.
They should work on their plan for protecting their income.

Please select the best answer from the choices provided

A
B
C
D

High school seniors with strong academic records apply to the nation’s most selective colleges in greater numbers each year. because the number of slots remains relatively stable, some colleges reject more early applicants. suppose that for a recent admissions class, an ivy league college received 2851 applications for early admission. of this group, it admitted 1033 students early, rejected 854 outright, and deferred 964 to the regular admission pool for further consideration. in the past, this school has admitted 18% of the deferred early admission applicants during the regular admission process. counting the students admitted early and the students admitted during the regular admission process, the total class size was 2375. let e, r, and d represent the events that a student who applies for early admission is admitted early, rejected outright, or deferred to the regular admissions pool.suppose a student applies for early admission. what is the probability that the student will be admitted for early admission or be deferred and later admitted during the regular admission process?