Using the "Nonworking" Spouse Method,what Should Be the Life Insurance

question 172

Multiple Choice

Using the "nonworking" spouse method,what should be the life insurance needs for a family whose youngest child is 7 years old?

• A)$50,000
• B)$70,000
• C)$90,000
• D)$110,000
• E)$140,000

---

Definitions:

Foreign Exchange Gain

A profit resulting from changes in exchange rates affecting the value of investments or transactions in foreign currencies.

Non-Interest-Bearing Note

A type of debt instrument that does not pay interest but is instead issued at a substantial discount from its face value and pays its full face value at maturity.

U.S. Dollar Equivalent

The value of a foreign currency expressed in terms of the quantity of United States dollars it can be exchanged for, based on current exchange rates.

Foreign Exchange Loss

A financial loss experienced by a company due to changes in exchange rates affecting foreign currency transactions.