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XCEL CHAPTER 8 EXAM 2025 QUESTIONS AND ANSWERS

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All of the following are considered appropriate uses of life insurance for business purposes EXCEPT? A. Attracting quality employees by offering a group life plan B. Funding an entity buy-sell agreement C. Protecting the business by covering key employees with life insurance D. Protecting the business by covering entry level employees with life insurance - ANS Protecting the business by covering entry level employees with life insurance Which approach predicts a person's earning potential and determines how much of that amount would be devoted to dependents? A. Future value approach B. Earnings approach C. Needs approach D. Human life value approach - ANS Human life value approach Craig purchased a life insurance policy for enabling his heirs to pay estate taxes. What is this called? A. Estate conservatio

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  • xcel chapter 8 exam 2025 questions and answers

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XCEL CHAPTER 8 EXAM 2025
QUESTIONS AND ANSWERS


All of the following are considered appropriate uses of life insurance for business purposes
EXCEPT?
A. Attracting quality employees by offering a group life plan
B. Funding an entity buy-sell agreement
C. Protecting the business by covering key employees with life insurance
D. Protecting the business by covering entry level employees with life insurance -
ANS Protecting the business by covering entry level employees with life insurance


Which approach predicts a person's earning potential and determines how much of that
amount would be devoted to dependents?
A. Future value approach
B. Earnings approach
C. Needs approach

D. Human life value approach - ANS Human life value approach


Craig purchased a life insurance policy for enabling his heirs to pay estate taxes. What is this
called?
A. Estate conservation
B. Liquidity maintenance
C. Survivor fund

D. Human value protection - ANS Estate conversion


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