Which of the Following Statements About a Variable Universal Life

question 56

Multiple Choice

Which of the following statements about a variable universal life insurance policy is (are) true?
I.There is a minimum guaranteed interest rate for the cash value.
II.The policyowner has a variety of investment options for the savings component of the policy.

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

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Definitions:

Sample Space

The set of all possible outcomes or results of a random experiment.

Independent

Referring to variables in experiments or statistical analysis that are not affected by other variables, indicating a variable that acts as a cause or predictor.

Probability

A measure of the likelihood that an event will occur, expressed as a number between 0 (impossibility) and 1 (certainty).

Federal Holidays

Public holidays in the United States established by federal law, during which non-essential federal government offices are closed.