Hello
Any idea if we are supposed to be able to calculate Life Insurance Needs using approaches: human life value or needs analysis ? Or general knowledge of the calculation process is enough ?
There is a Blue Box “Life Insurance needs for Jaques and Marion” in Reading 32. “Risk Management for Individuals” with calculation process.
However there is no LOS specifying “Calculate…”. The only LOS related to the subject states:
“Analyze and critique an insurance program”
TIA
To analyze and critique whether there is sufficient insurance, you would need to know how the calculation works (both for human life value method and needs analysis method).
Analyze likely means, at least in part, calculate.
Trust me on this.
Thank you, guys !
As I first time L3 taker I still need to clarify the meaning of some command words for myself because they become as important as ever. In addition, I may assume that if a Blue Box presents calculation process in details as well as EOC PPs contains a question on that we are supposed to know the calculation process and may be asked to perform it on the exam.