Joleene Is a Single Parent with Two Children and Earns

question 190

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 Joleene's policy.

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

Develop and apply critical thinking and problem-solving skills.

Recognize the importance of continuous professional growth and education.

Identify personal qualifications and soft skills necessary for medical assistants.

Demonstrate effective communication skills with patients and team members.

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Definitions:

Inelastic Demand

A situation where the demand for a product does not significantly change with a change in price.

No-Name Brand

Products that are sold without a brand name, often packaged plainly and priced lower than branded counterparts, focusing on basic functionality.

Professional Chefs

Skilled individuals who are trained in the art of food preparation, cooking, and presentation in a professional setting.

Prevent Arbitrage

Measures taken to stop the practice of buying a product in one market at a low price and selling it in another at a higher price to profit from the price difference.