Carl Would Like to Purchase Life Insurance

question 52

Multiple Choice

Carl would like to purchase life insurance.He would also like to invest in a mutual fund.An agent told Carl about a form of life insurance in which Carl could select where the saving component is invested.This form of life insurance has fixed premiums and the cash value is not guaranteed.This type of life insurance is called

• A)universal life insurance.
• B)whole life insurance.
• C)variable life insurance.
• D)current assumption whole life.

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Definitions:

Relatively Consistent

Describes something that maintains a general uniformity or regularity, though there may be minor variations or exceptions.

Psychological Tests

Standardized measures designed to quantify behavior, traits, attitudes, and abilities, often used in psychological assessment and research.

IQ

An abbreviation for Intelligence Quotient, a measure of an individual's cognitive abilities in relation to their age group, typically assessed by standardized tests.