Personal Finance Essay

1425 Words6 Pages
Assignment 6 (26 points) Assignment 6: Insurance and Consumer Protection Instructions Save this file in your course folder, and name it with Assignment, the section number, and your first initial and last name. For example, Jessie Robinson's assignment for Section 1 would be named Assignment1JRobinson. Type the answers to the assignment questions below. Use complete sentences unless the question says otherwise. You will have more than one day to complete an assignment. At the end of each day, be sure to save your progress. Review Lesson 4 of the Course Overview for instructions about turning in your assignments. Assignment Questions 1. Think of a real or made up but realistic example of a pure risk that you or someone you know may face, and then answer the questions below. a. Describe the specific risk. (1-3 sentences. 0.5 points) a. My friend may get into a major car accident. b. What sort of negative outcomes are possible for this type of risk? (1-3 sentences. 1.0 points) b. Losing your car, having to pay a large amount of money for hospital bills, car repair fees, or a new car entirely c. Would this risk be likely to create unexpected expenses? Why or why not? (1-3 sentences. 1.0 points) c. Yes because it is a sudden accident and you will have to pay a large amount of money for things or people involved. d. Describe at least one way you could protect yourself against this risk. (1-3 sentences. 1.0 points) d. Driving carefully and safely and even if that doesn’t work save up a large reserve of money so you aren’t as negatively affected. 2. Think of a real or made up but realistic example of a speculative risk that you or someone you know may face, and then answer the questions below. a. Describe the specific risk. (1-3 sentences. 0.5 points) a. Investing money in different starting companies. b. What sort of negative

More about Personal Finance Essay

Open Document