_____ Determines the Amount of Life Insurance Coverage Required for an Individual

question 51

Multiple Choice

_____ determines the amount of life insurance coverage required for an individual by considering his or her financial obligations and available financial resources in addition to life insurance.

• A) The savings analysis method
• B) The needs analysis method
• C) The earnings analysis method
• D) The liabilities analysis method
• E) The borrowings analysis method

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Definitions:

Markov Analysis

Markov analysis is a statistical technique used to predict the future behavior of variables or systems based on past behavior and probabilistic factors.

Replacement Chart

A visualization tool used in human resources to plan for succession and identify backup candidates for key positions within an organization.

Skills Inventory

A comprehensive list or database of the skills, competencies, and qualifications that employees currently possess within an organization.

Identifying Needs

The process of recognizing and determining the requirements or necessities within a specific context, such as an organization or project.