INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 42

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-The [policy owner | insurance company] makes the investment decisions with variable life insurance.

• A)for the first item
• B)for the second item
• C)if neither item will correctly complete the statement.

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Definitions:

Performance

The execution or accomplishment of work, acts, or tasks as required by a contract or expectation.

Agreement

A mutual understanding or arrangement, often formalized in a contract, between two or more parties to perform or refrain from performing particular acts.

Reasonable Value

The fair or market value of a service or item, considered to be value as determined by what a willing buyer would pay to a willing seller in an arms-length transaction.

Workmanlike Manner

The expectation that services or work performed will meet the standards set by skilled individuals in that trade or industry.