Which of the following statements about beneficiary designations is (are) true?
I. The primary beneficiary is entitled to the death proceeds of a life insurance policy only if the contingent beneficiary dies before the insured.
II. If a revocable beneficiary designation is used, the insured must obtain the beneficiary's permission of exercise most policy rights.
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: D
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