Nicole plans to take out a $200,000 mortgage for a vacation home. Her bank, however, requires her to provide some type of collateral for the loan. If Nicole owns a $500,000 whole life insurance policy, the policy
A) will not have enough cash value to be used as collateral for the loan
B) may be used as collateral for the loan
C) may not be used as collateral for the loan
D) may not be used as collateral for the loan because it cannot be attached by creditors"
Ans: B) may be used as collateral for the loan
You might also like to view...
Because the size of the market increases when trade barriers fall, companies can increase their production, which will result in lower costs per unit. This phenomenon is known as ________
A) trade creation B) economies of scale C) diseconomies of scale D) increased competition
Enterprise resource planning replaces stand-alone applications by providing various modules based on a common database and similar application interfaces that service the entire enterprise rather than portions of it
Indicate whether the statement is true or false