Under Which of the Following Does the Insured Have a Right

question 16

Multiple Choice

Under which of the following does the insured have a right to borrow against his policy.

• A) Term life policy.
• B) Whole life policy.
• C) Disability Insurance
• D) Annuity contract.

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Definitions:

Adjusting Entry

An accounting record entry, created at the conclusion of an accounting cycle, that distributes earnings and expenses to their respective years.

Unearned Fees

Income received by a company for services to be provided in the future; recognized as a liability until the services are rendered.

Adjusting Entry

A financial record created at the conclusion of an accounting cycle to distribute income and costs to the timeframe in which they were genuinely incurred.

Office Equipment

Tangible assets such as computers, desks, and chairs, purchased for use in the conduct of business operations and not intended for resale.