Which of the Following Statements About Beneficiary Designations Is (Are)true

question 24

Multiple Choice

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 policyowner must obtain the beneficiary's permission to change the beneficiary.

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

Analyze the effects of taxes on specific market scenarios including service transactions.

Comprehend the factors that determine the magnitude of the shrinkage in equilibrium quantity due to taxation.

Understand the concept of deadweight loss and its causes in the context of taxation.

Analyze the impact of elasticity of demand and supply on the magnitude of deadweight loss.