Which of the Following Statements About the Change of Plan

question 15

Multiple Choice

Which of the following statements about the change of plan provision in a life insurance contract is (are) true?
I.A change to a lower premium policy results in a refund of the difference in the cash values of the two policies.
II.A change to a higher premium policy requires evidence of insurability.

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

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Definitions:

Operant

A term related to operant conditioning, a method of learning that employs rewards and punishments for behavior.

Establishing

The process of founding or creating something firmly, such as rules, principles, or relationships, in a definitive manner.

Operant Conditioning

A system of learning where behavior modification is achieved through incentivization or disciplinary measures.

Classical Conditioning

A learning process first described by Ivan Pavlov, in which an organism comes to associate two stimuli, leading to a change in behavior.