Identify Which of the Following Statements Is False

question 46

Multiple Choice

Identify which of the following statements is false.

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

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Definitions:

Single

Not married or in a romantic relationship, or referring to only one in quantity.

Married Mothers

Women who are legally married and have one or more biological, step, or adopted children.

Psychological Disorders

Mental health conditions characterized by disturbances in thought, emotion, or behavior, leading to distress or impaired functioning.

Single-Parent Families

Households headed by only one parent, who is solely responsible for the upbringing of their child or children.