Mel Was the Beneficiary of a $45,000 Group Term Life

question 84

True/False

Mel was the beneficiary of a $45,000 group term life insurance policy on his deceased wife.His wife's employer had paid all of the premiums on the policy.Mel used the life insurance proceeds to purchase a U.S.government bond, which paid him $2,500 interest during the current year.Mel's Federal gross income from this is $2,500.

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Definitions:

Impression Management

The process by which individuals attempt to control the perceptions others have of them.

Phony

Not genuine; fake or deceitful in character or behavior.

Selective Perception

The tendency to define problems from one’s own point of view.

Screened Out

The process of eliminating candidates or options that do not meet predefined criteria.