Judy and James Have a 4-Year-Old Child

question 79

Multiple Choice

Judy and James have a 4-year-old child.They plan to purchase life insurance using this formula: Current income × 7 × 70%.Which method are they using to determine their life insurance needs?

• A) Easy method
• B) Dual income, no kids method
• C) Formal calculation method
• D) Nonworking spouse method
• E) Family needs method

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Definitions:

Smoking

The act of inhaling and exhaling the smoke of burning tobacco or other substances, often associated with nicotine addiction and health risks.

Open-Heart Surgery

A type of surgery where the chest is opened and surgery is performed on the muscles, valves, or arteries of the heart.

Death Rates

A measure of the number of deaths in a particular population, scaled to the size of that population, per unit of time.

Smoking

The act of inhaling and exhaling the smoke of burning plant material, especially tobacco, often considered a health risk.