Gordon,an Employee,is Provided Group Term Life Insurance Coverage Equal to Twice

question 21

Multiple Choice

Gordon,an employee,is provided group term life insurance coverage equal to twice his annual salary of $125,000 per year.According to the IRS Uniform Premium Table (based on Gordon's age) ,the amount is $12 per year for $1,000 of protection.The cost of an individual policy would be $15 per year for $1,000 of protection.Since Gordon paid nothing towards the cost of the $250,000 protection,Gordon must include in his 2017 gross income which of the following amounts?

• A)$1,350.
• B)$2,400.
• C)$3,000.
• D)$3,750.
• E)None of these.

Identify and describe different retirement income sources and their characteristics.

Recognize the importance of starting retirement planning early and the factors influencing retirement savings needs.

Understand key retirement plans and their differences, including employer and personal retirement plans.

Recognize the special considerations and financial strategies for retirees, including expenses likely to increase or decrease.

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Definitions:

Second Green Revolution

An agricultural movement aimed at improving food security and sustainability through advances in technology, genetic modification of crops, and farming practices.

High-Yield Varieties

Plants bred specifically to produce more food per acre compared to traditional varieties.

Global Food Production

The total output of food commodities produced worldwide, encompassing agriculture, aquaculture, and livestock sectors.

Green Revolution

A period during the 20th century characterized by significant increases in agricultural production worldwide, achieved through the introduction of high-yield crop varieties, chemical fertilizers, and pesticides.