Which of the Following Statements About Assignments of Life Insurance

question 13

Multiple Choice

Which of the following statements about assignments of life insurance policies is (are) true?
I.Under a collateral assignment,the policyowner assigns a life insurance policy to secure a loan.
II.Under an absolute assignment,only limited ownership rights in a policy are transferred.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

Understand the risks and benefits of mixing medications with alcohol.

Distinguish between traditional medicine and alternative therapies.

Recognize the importance of regular screenings for sexually transmitted infections and cancers in specific populations.

Explain the impact of diet and weight loss on health, including cholesterol levels and the risk of chronic conditions.

---

Definitions:

Selling and Administrative Expense Budget

A financial plan that estimates the costs associated with selling products and managing the business, including marketing, salaries, and office expenses.

Fixed Expenses

Costs that do not fluctuate with the level of production or sales, such as rent, insurance, and salaries.

Budgeted Sales

An estimate of the sales in units or revenue that a company plans to achieve during a specific period.

Cash Disbursements

The process of paying out money from a fund or account, usually for business-related expenses or transactions.