Activity

Read the situation and choose the correct answer.

Question 1/1

Liza’s husband passed away in his sleep suddenly. Liza knows that he had made investments for the future and had a life insurance policy for an unexpected incident like this. But, she does not know the details of any of these. Her husband had not told her the details. He also had not maintained the financial records of investments, loans and insurance premiums in order or in one place. What do you think is going to be the consequence of this on Liza and her children now?

They have no idea of how much money they have for their use and how much money they have to pay back to clear debt and loans

They have to go through a lengthy process of obtaining updated records from the bank. It will delay the money they get. In the absence of the breadwinner of the house, they are going to have a lot of problem arranging money for immediate use. They will end up borrowing money for a very high interest rate from the local moneylender.

Since he has not maintained the records of EMIs he has paid or the installments of loan he has cleared, they will have to trust what the money lender tells them about it.

All of the above

To track your progress

Activity

Activity

Question 1/1

Activity Time

0/0 of the questions were answered correctly

Continue learning

Ration Cards