Armenia Purchased Life Insurance on Her Life

question 23

Multiple Choice

Armenia purchased life insurance on her life. Regarding the beneficiary: _______.

• A) Armenia must name a person with a pecuniary interest in her life.
• B) Armenia must name a close relative.
• C) Armenia must name a close relative or business associate.
• D) Armenia may name whomever she wishes.

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Definitions:

Standard Deviation

A measure of the amount of variation or dispersion in a set of values, showing how much each value in the set deviates from the mean.

Toll Station

A point at which drivers are charged a fee to use a bridge, road, or tunnel.

Standard Deviation

A metric showing the extent of deviation or scatter of data points, highlighting the distance of these points from the central value.

Probability

The likelihood or chance of a particular event happening, often expressed as a number between 0 and 1.