Question

true or false: to begin your savings plan it is a good idea to set aside your savings first and only spend what is left over.
○ true
○ false
question 2 2.27 pts
true or false: the idea of having adequate insurance is to protect against events that could reduce your income or wealth.
○ true
○ false
question 3 2.27 pts
_______ insurance provides financial support if you are injured and unable to work.
○ medical reimbursement
○ liability
○ disability
○ compensatory

Explanation:

Question 1

In personal finance, prioritizing savings (paying yourself first) by setting aside savings before spending is a recommended strategy for effective savings plans. So the statement is true.

Insurance (like health, property, etc.) is designed to mitigate financial losses from events (accidents, illnesses, disasters) that could decrease income/wealth. So the statement is true.

Disability insurance specifically provides income replacement when a person is injured/sick and can’t work. Medical reimbursement covers medical costs, liability covers legal liabilities, compensatory is for damages (not work - related inability).

Answer:

True

Question 2