Whole life insurance contracts:
A. bind the insurer to pay an amount only if the insured dies and not when the policy is terminated.
B. have a convertibility feature that allows the insured to convert the policy to a term life policy.
C. have no cash surrender value if the policy is terminated.
D. require the insured to pay the specified premium for the duration of his/her life.
Answer: D
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Vailes Company reissued 200 shares of its treasury stock. The treasury stock originally cost $25 per share and was reissued for $35 per share. Which of the following accurately reflects how the reissue of the treasury stock would affect Vailes's financial statements? Assets=Liab.+EquityRev.?Exp.=Net Inc.Cash Flow Pd-in Cap TS-Treas. Stk. A.7,000=NA+2,000-(5,000)NA?NA=NA7.000 FAB.7,000=NA+2,000-5,000NA?NA=NA7,000 FAC.7,000=NA+7,000-NANA?NA=NA7,000 FAD.5,000=NA+5,000-NANA?NA=NA5,000 FA
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Which of the following is NOT a limited-function merchant wholesaler?
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Even in cases in which the defendant's negligence made the forgery possible, forgery may be raised successfully against any holder
Indicate whether the statement is true or false