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:

Paraphrasing

A communication technique involving restating the content of a message in your own words to confirm understanding.

Open Question

A type of question that cannot be answered with a simple "yes" or "no," encouraging a more detailed and informative response.

Closed Questions

Questions formulated to receive a specific, often one-word answer, limiting the scope of response.

Elicit

To draw out or provoke a response, answer, or fact from someone in a subtle or careful way.