All of the following statements describe the flexibility available to the owner of a universal life insurance policy EXCEPT
A) Policy loans are permitted on an interest-free basis.
B) The frequency of premium payments can be varied.
C) The death benefit can be increased with evidence of insurability.
D) Premium payments can be any amount provided there is sufficient cash value to keep the policy in force.
Answer: A
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Accelerated depreciation assumes all of the following except that
A) asset benefit increases with each year of use. B) the asset provides more benefit in the early years. C) obsolescence makes an asset less valuable in its later years. D) repair expense is less in the early years than in the later years.
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $360,000 and direct labor hours would be 45,000. Actual manufacturing overhead costs incurred were $377,200, and actual direct labor hours were 46,000. What is the predetermined overhead rate per direct labor hour?
A) $8.00 B) $8.20 C) $8.38 D) $7.83
The contract will be awarded to ____ meets our qualifications
A) whoever B) whomever
Financial accounting prepares reports for internal purposes, whereas managerial accounting provides information to external stakeholders
Indicate whether the statement is true or false