Using the "Nonworking" Spouse Method,what Should Be the Life Insurance

question 36

Multiple Choice

Using the "nonworking" spouse method,what should be the life insurance needs for a family whose youngest child is 8 years old?

• A)$50,000
• B)$70,000
• C)$80,000
• D)$100,000
• E)$180,000

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Definitions:

Wind Up and Terminate

The process of concluding affairs and officially dissolving a business or corporation.

UPA

Uniform Partnership Act, which regulates the operation of partnerships in the absence of express agreement between the partners.

Wrongfully Withdrawing

refers to the act of improperly removing oneself or something from consideration, possession, or use without legal justification or authority.

Force Liquidation

The process of quickly selling off assets or securities, typically at lower prices, often initiated by creditors or regulatory authorities.