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AAFM GLO_CWM_LVL_1 Exam - Topic 2 Question 12 Discussion

Actual exam question for AAFM's GLO_CWM_LVL_1 exam
Question #: 12
Topic #: 2
[All GLO_CWM_LVL_1 Questions]

Mahesh earns 1,20,000 pa. He has total debt of Rs. 2,00,000 and have two dependants. Interest rate is 7%, and assumes 80% of his pre-death salary is the estimated requirement to maintain his family after paying the loan. Calculate the life insurance cover needed under multiple approach method.

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Suggested Answer: D

by Merissa at May 06, 2022, 01:00 AM

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Nathan
6 months ago
Totally agree, 16 lakhs sounds about right!
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Haydee
6 months ago
Wait, how can he need 18 lakhs? That seems too much!
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Salina
6 months ago
I think the cover should be higher than 15 lakhs.
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Arminda
6 months ago
He has a debt of 2,00,000.
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Luis
7 months ago
Mahesh's salary is 1,20,000 pa.
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Ty
7 months ago
Defining valid values and saving case data - those are the two situations where I would configure local data storage. I'm feeling good about this one.
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Veronika
7 months ago
Okay, multiple approach means I'll calculate income replacement and debt clearance separately.
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