Your Decision About One Component of Your Financial Plan Can

question 69

Multiple Choice

Your decision about one component of your financial plan can affect all other components. Which statement is true?

• A) The amount of life insurance you choose to carry has no effect on your future estate value.
• B) There will never be any trade-offs to consider when making decisions about your financial plan.
• C) If you make poor investment decisions, you may have to work longer than planned.
• D) You should contribute all of your extra money to your retirement account even if it means you don't have money available for products and services today.

---

Definitions:

Chi-square Test

A statistical test used to determine whether there is a significant association between two categorical variables.

Expected

A term often used in statistics and probability, referring to the predicted outcome or value in an experiment or random event.

Observed

Observed, in statistics, refers to the actual data or values collected from experiments or studies, as opposed to expected or theoretical values.

Chi-square Value

A statistic used to measure the differences between observed and expected frequencies in categorical datasets, testing for independence or goodness of fit.