Greg Is the Owner and Beneficiary of a $100,000 Policy

question 18

Multiple Choice

Greg is the owner and beneficiary of a $100,000 policy on the life of his mother.Greg gives the policy to his brother,Don.Don subsequently pays premiums of $40,000.Upon his mother's death,how much of the insurance proceeds must Don include in income?

• A)$0
• B)$40,000
• C)$60,000
• D)$100,000

Understand the concept of learned helplessness and self-fulfilling prophecies.

Grasp the different types of cognitive biases and heuristics.

Recognize the impact of locus of control on individuals' perceptions and behaviors.

Identify and understand various attribution errors and biases.

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Definitions:

Meta-analysis

A statistical method that integrates the findings of various research studies to reach an overall conclusion.

Replication

The process of repeating a study or experiment to determine whether the original findings can be duplicated and are reliable.

Case Study

A research method involving an up-close, in-depth, and detailed examination of a particular case or cases, within a real-world context.

Random Assignment

A process in experimental design that randomly places participants into either a control group or an experimental group to reduce biases.