[Answer] Jim and Jackie are married with three children at home and a mortgage. Jim's net pay per year is $67 000 and Jackie does not have income. Their mortgage payment of $2 800 includes insurance on their home. They have additional monthly expenses of $2 700.Jim contributes 15% of his earnings to a retirement fund and they have $5 000 in savings. There is a $500 000 life insurance policy on Jim and a $100 000 policy on Jackie.As their financial advisor what part of Jim and Jackie's financial plan would you encourage them to work on?a.They should work on their plan for managing income.b.They should work on their plan for managing their liquidity.c.They should work on their plan for protecting their assets.d.They should work on their plan for protecting their income.

Answer: A

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Jim and Jackie are married with three children at home and a mortgage. Jim's net pay per year is $67 000 and Jackie does not have income. Their mortgage payment of $2 800 includes insurance on their home. They have additional monthly expenses of $2 700.Jim contributes 15% of his earnings to a retirement fund and they have $5 000 in savings. There is a $500 000 life insurance policy on...

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