Choose wisely. There is only one correct answer to each question.
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1.
All pregnancy costs are covered by health insurance.
False. This is why anyone planning to get pregnant should investigate what is covered.
2.
Which of the following are tax breaks that parents can qualify for?
Both of the above. These as well as a few others are some tax breaks that you should investigate if you are a parent or planning to become one.
3.
There are tax breaks available to parents with dependent children.
True. The IRS cuts you several nice breaks every year.
4.
Which of the following may be excluded from financial means testing?
Both life insurance cash values and supplemental needs trusts. Assets held in certain trusts or in life insurance cash values are usually excluded from means testing.
5.
You can open up a custodial investment account in your child's name.
True. This is a good way to get your child started on investing.