Life Insurance Would Be Necessary in All of the Following

question 44

Multiple Choice

Life insurance would be necessary in all of the following situations, except

• A) you are single and have no dependents.
• B) you are married and your spouse has no income.
• C) you have three school-aged children.
• D) you financially support your disabled mother.

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Definitions:

Cumulative Probability Distribution

The accumulation of individual probabilities of a distribution.

Random Numbers

Random numbers are sequences of digits (usually between 0 and 1) generated in such a way that each number has an equal probability of occurring, commonly used in simulations and statistical sampling.

Cumulative Probability Distribution

A statistical function that describes the probability of a random variable falling within a certain range or being less than a specific value.

Monte Carlo Simulation

A computational technique that uses random sampling to obtain numerical results, often used for risk assessment or to solve physical and mathematical problems.