Which of the following statements about life insurance policy loans is (are) true?
I. Interest is not required on a life insurance policy loan, as the policyholder is borrowing his or her own money.
II. If there is an outstanding loan when the insured dies, payment to the beneficiary is reduced by the amount of the loan.
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: B
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IFRS allows a category in the income statement for extraordinary gains and losses, while U.S. GAAP does not allow such a category.
Answer the following statement true (T) or false (F)
On January 1, 2007, the Baker Corporation issued 10% bonds with a face value of $50,000. The bonds are sold for $46,000. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, 2011. Baker records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31, 2007, is
A) $4,000 B) $4,200 C) $5,400 D) $5,800
Every project, regardless of its size or complexity, needs to have an organizational structure
Indicate whether the statement is true or false
Under what conditions would a marketer most likely use a price leader strategy?
What will be an ideal response?