3-60 Variable Universal Life Insurance Policies

question 75

Multiple Choice

3-60 Variable universal life insurance policies

• A)have fixed premiums and a fixed benefit payout.
• B)have fixed premiums,but allow the benefit payout to vary with investment returns.
• C)have a fixed benefit payout,but allow the premium to vary with investment returns.
• D)allow both the premium and benefit payout to vary with investment returns.
• E)allow both the premium and benefit payout to vary with investment returns,but have a fixed maturity date.

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Definitions:

Assimilation

A cognitive process that involves incorporating new information into existing cognitive schemas, perceptions, and understanding.

Organization

The coordinated arrangement or structure of parts within a system, or the process of arranging and coordinating elements to achieve a unified whole.

Accommodation

In psychology, the process of adjusting cognitive schemas to incorporate new information.

Schemes

In Piaget’s theory, actions or mental representations that organize knowledge.