Because Joint Tenancy and Life Insurance Are Ways of Directing

question 55

Multiple Choice

Because joint tenancy and life insurance are ways of directing the disposition of property,they are sometimes referred to as ________.

• A)will replacements
• B)will substitutes
• C)equity wills
• D)contract wills

---

Definitions:

Probability

The chance or likelihood that an event will happen, quantified as a number between 0 (impossible) and 1 (certain).

Biased Coin

A modified or manipulated coin which does not have an equal probability of landing on heads or tails, thus influencing the outcome of a flip.

Probability

The likelihood of an event happening is measured on a scale from 0 to 1, where 0 equals no chance of occurring and 1 denotes definite occurrence.

Normal Model

A type of statistical distribution that is symmetric and bell-shaped, representing the distribution of many types of data; commonly known as the normal distribution.