What is the Alexander polynomial of a point? According to the Baez-Dolan cobordism hypothesis, an extended TQFT is determined by its value on a single point. This value a fully dualizable object of a symmetric monoidal $n$ category (a fully dualizable object is a higher categorical analogue of a finite dimensional vector space). The Alexander polynomial is a quantum invariant, and comes from a TQFT. 

How can an "Alexander polynomial" TQFT be put into an extended TQFT, and what is its value at a single point?
The question I just asked is closely related to this question. I also asked the question on the ldtopology blog here, and Theo Johnson-Freyd suggested that MO might be the place to ask it.

Briefly, I will summarize what an extended TQFT is. A TQFT as a symmetric monoidal functor Z:Cob(n)-> Vect(k) from the tensor category of $n-1$ dimensional manifolds and cobordisms between them to the tensor category of vector spaces over a field k. An extended TQFT is a symmetric monoidal functor Z:Cobk(n)->C from the n-category of cobordisms to a symmetric monoidal n-category C. I vote for the introduction to Lurie's expository account of his work proving the Baez-Dolan cobordism hypothesis as the best place to read about why extended TQFT's are natural objects, to understand their motivation, and to understand why people are so excited about them. An extended TQFT assigns a fully dualizable object to a point, and a higher “trace” on this object to a closed n-dimensional manifolds.
 A: Understanding the Alexander polynomial can get a bit technical, because the quantum dimension is zero.  So I don't think I fully understand how you get a TQFT from the Alexander polynomial.
In a more typical situation, like the Jones polynomial (related to SL(2) instead of the more confusing GL(1|1) in the Alexander setting), you have to be a bit careful about your target 3-category.  For example, the usual Reshetikhin-Turaev TQFT doesn't come from a 0123 TQFT valued in tensor categories, because it is not the Drinfeld center of a semisimple category.  (In this setting obstructions to extending to points are roughly given by the Witt group of Davydov, Mueger, Nikshych, and Ostrik.)
On the other hand, you can extend Reshetikhin-Turaev down to points if you use a different target category, like conformal nets (see http://arxiv.org/abs/0912.5307).
A: I agree with Noah, and I disagree.  Recent investigations into the notion of extended TQFT have led to a very rigid notion of what TQFT is.  So rigid in fact, that almost nothing is a TQFT anymore, so
the answer is as above: There is no answer. 
However, maybe you could restate the question so that it does have an answer.


*

*Turaev torsion acts somewhat like a TQFT, and somewhat like the Alexander invariant. There are papers where people work out the Turaev torsion
of manifolds with boundary and the associated gluing rules. Can you extend down to get an invariant that looks like a 2-extended TQFT?  If so what is the category assigned to a one manifold.  Can you build down to an invariant that satisfies some axioms that you could claim correspond to 3-extended
TQFT?  If so what are you assigning a to a 0-manifold?  

*Heegaard Floer homology acts like the Alexander invariant, in fact there is a version that
categorifies Turaev torsion.  There are now bordered versions of Heegaard Floer.  Can you keep
extending these theories down? If so what do they assign to lower dimensional manifolds?
