Bill was severely injured by an uninsured driver. Bill did not purchase uninsured motorists coverage, and the other driver, although held liable, could not pay the damages awarded.
After exhausting other sources of recovery, Bill learned that his state is one of a few states that has a special fund to compensate innocent accident victims. These state funds are called
A) guaranty funds.
B) unsatisfied judgment funds.
C) rainy-day funds.
D) second injury funds.
Question 2
You plan to go to Asia to visit friends in three years. The trip is expected to cost a total of 10,000 at
that time. Your parents have deposited 5,000 for you in a Certificate of Deposit paying 6 interest
annually, maturing three years from now.
Uncle Lee has agreed to pay for all remaining expenses.
If you are going to put Uncle Lee's gift in an investment earning 10 over the next three years, how
much must he deposit today, so you can visit your friends three years from today?
A) 5,801 B) 3,757 C) 3,039 D) 3,345
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How a Bill becomes law: neat and tidy version