Cash value policies rarely apply surrender charges in the early years
Indicate whether the statement is true or false
FALSE
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A corporation's obligation to provide shareholders with financial information:
a. depends on whether the company is publicly or privately held. b. depends on the requirements of the Model Business Corporation Act, which is widely followed in regard to the shareholders' right to information. c. is extensive and is carefully regulated by the SEC if the company is privately held. d. All the above.
Actual cash value is defined as:
A) replacement cost minus accounting depreciation B) replacement cost minus depreciation C) actual replacement cost D) original purchase price minus depreciation
The owner of a sole proprietorship pays federal income taxes at the corporate income tax rate, based on the net earnings of the sole proprietorship
Indicate whether the statement is true or false
In Chuway v. National Action Financial Services, where Chuway received a letter from debt collector National that requested payment of the amount she owed on a debt, the appeals court held that the debt collector used:
a. inaccurate terms about the balance due, and so violated the FDCPA b. abusive language in the letter, and so violated the FDCPA c. technical terms that an ordinary consumer could not understand, a violation of the FDCPA d. language that was a bit technical, but the meaning was clear to a reasonable person, so there was no violation of the FDCPA e. none of the other choices