The Annual Increase in the Cash Surrender Value of a Life

question 53

Multiple Choice

The annual increase in the cash surrender value of a life insurance policy:

• A)Is taxed according to the original issue discount rules.
• B)Is not included in gross income because the policy must be surrendered to receive the cash surrender value.
• C)Reduces the deduction for life insurance expense.
• D)Is exempt because it is life insurance proceeds.
• E)None of these.

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Definitions:

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A process of examining and analyzing the current state of the job market to understand trends, job availability, salary ranges, and required skill sets.

Balfour Declaration

A statement from the British government in 1917 expressing support for the establishment of a "national home for the Jewish people" in Palestine, then an Ottoman region with a minority Jewish population.

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