Joleene Is a Single Parent with Two Children and Earns

question 96

Multiple Choice

Joleene is a single parent with two children and earns $45,000 per year. She is purchasing term life insurance for 15 years until her youngest child is self supporting. Assuming her survivors can receive a 3% after-tax, inflation return on insurance proceeds, use the earnings multiple approach to calculate the face value of Joleen's policy.

• A) $33,445
• B) $547,851
• C) $397,548
• D) $556,668
• E) none of the above

---

Definitions:

Free Will

The concept that humans have the ability to make choices that are not predetermined by past events or natural laws.

Funder's First Law

The psychological principle stating that "Great strengths are usually great weaknesses, and surprisingly often the opposite is true as well," highlighting the complexity of personality traits.

Psychological Triad

Refers to the three components of psychological analysis: thoughts, feelings, and behaviors.

Pigeonholing

The practice of classifying or categorizing people, ideas, or objects narrowly and often unfairly, limiting potential or understanding.