Tim and Tammy Are Updating Their Financial Plan and Are

question 30

Multiple Choice

Tim and Tammy are updating their financial plan and are concerned that they might not have enough life insurance coverage for their family, which includes two children, ages 4 and 10. They have determined that their annual income is $70,000 and their net worth is now $150,000. What is the amount of life insurance they should carry using the "nonworking" spouse method?

• A) $140,000
• B) $343,000
• C) $490,000
• D) $700,000
• E) $750,000

---

Definitions:

Unacceptable Behavior

Actions or conduct deemed inappropriate or unacceptable by societal, professional, or specific group standards.

Negotiators' Past Relationship

The history and previous interactions between parties in a negotiation that can influence their current and future dealings.

Competitive

Characterized by or involving competition; striving to gain or win something by defeating or establishing superiority over others.

Cooperative

An approach in negotiations characterized by mutual assistance, joint effort, and teamwork to achieve a common goal.