Amy Bought a Life Insurance Policy and Named Ben as Her

question 69

Multiple Choice

Amy bought a life insurance policy and named Ben as her beneficiary. She has since died. Who will receive the benefits from her policy?

• A) Ben.
• B) Ben's beneficiaries.
• C) Her contingent beneficiaries.
• D) Her parents.
• E) None of these.

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Definitions:

Sole Proprietorship

A type of business structure owned and run by one individual where there is no legal distinction between the owner and the business.

Multiple Owners

A business structure where two or more individuals share ownership and responsibilities of managing the business.

Limited Liability Company

A business structure in the United States whereby the owners are not personally liable for the company's debts or liabilities.

Tax Treatment

The manner in which an item or transaction is taxed by authorities, affecting how it is reported and what deductions or credits may apply.