Judy and James Have a 4-Year-Old Child

question 50

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 need method

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Definitions:

Manager's Office

A designated space or room where a manager or supervisor in a business, institution, or organization conducts their work, including planning, organizing, and leading operations.

Reinforcement

In behavioral psychology, reinforcement is a process by which a behavior is strengthened or increased in frequency by the consequence that follows it.

Green

A color perceived when light with a wavelength between approximately 495–570 nm is detected by the eye, commonly associated with nature and growth.

Operant Response

A behavior that is modifiable by its consequences, including reinforcement or punishment, within the context of operant conditioning.