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  3. consider a typical individual who owns the following financial instruments...

Question: consider a typical individual who owns the following financial instruments...

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Consider a typical individual who owns the following financial instruments: A life insurance policy for $340,000; a certificate of deposit for $85,000; homeowner's and auto insurance policies; $14,000 in a mutual fund, and $230,000 in her pension fund at work. Which of these are instruments used primarily as stores of value and which are being used to transfer risk?

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