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...
A researcher prefers using scholarly sources instead of popular resources. All of the following are reasonable justification for doing so, EXCEPT:
a. scholarly sources are more current than popular sources. b. scholarly sources provide access to new findings and information whereas popular sources report secondhand findings. c. scholarly sources go through the rigorous process of peer review d. scholarly sources are written in more appropriate technical language. e. scholarly sources can be tracked using Web-based bookmarking tools
In questionnaire design, assigning a code to every conceivable response before data collection is called pre-coding
Indicate whether the statement is true or false