State insurance regulators require LMN Life Insurance Company to maintain a separate account. The assets in the separate account would support the liabilities for which of the following products?
A) term life insurance
B) whole life insurance
C) fixed annuity
D) variable life insurance
Answer: D
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Neil and Paul formed a partnership. During the year, Neil and Paul withdrew $13,000 and $6,000, respectively. Provide the journal entry to close the withdrawal accounts. Omit explanation.
What will be an ideal response?
American English is standard in the United States and among most English-speaking _____________
a. professionals b. scientists c. Pacific Rim Asians d. Europeans
A company began the year with assets of $119,000, liabilities of $29,500, and stockholders' equity of $89,500. During the year assets increased $56,900 and stockholders' equity increased $23,800. What was the change in liabilities for the year?
A. Decrease of $80,700 B. Decrease of $33,100 C. Increase of $80,700 D. Increase of $33,100
In a sale or return, title and risk of loss remain with the seller until the buyer accepts the goods.
Answer the following statement true (T) or false (F)