Identify Which of the Following Statements Is False

question 66

Multiple Choice

Identify which of the following statements is false.

• A)The interpolated terminal reserve is similar to a life insurance policy's cash surrender value.
• B)A gift occurs when the owner of an insurance policy irrevocably assigns all ownership rights in the policy to another.
• C)The payment of premiums on an insurance policy that is owned by another does not constitute a gift.
• D)The value of the gift of a life insurance policy is the amount it would cost to purchase a comparable policy on the date of the gift.

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Definitions:

Organizational Size

This refers to the magnitude of an organization, typically measured by the number of its employees, the scale of its operations, or its market share.

Adhocracy

A flexible, adaptable, and informal organizational structure that is defined by a lack of rigid procedures, roles, and hierarchies, facilitating innovation and creativity.

Mutual Adjustment

A process of coordinating actions and decisions through informal communication and negotiation among parties.

Support Staff

Employees who provide administrative or technical support to an organization, enabling primary operations without being directly involved.