INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 49

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-The policy owner assumes the investment risk with [whole life | 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:

Price Floor

A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, often above the equilibrium price.

Shortage/Surplus

Economic conditions where the quantity of a good demanded exceeds its supply (shortage) or where supply exceeds demand (surplus).

Chain Of Command

The linking of all employees with successively higher levels of authority.

Vertical Links

The connections and communications between different levels of an organization, from top management to lower-level employees.