Which of the following is false with respect to universal life insurance (ULI)?
A) Is interest sensitive
B) Has flexible premiums and benefits
C) Is cheaper than ordinary whole life
D) Has the tax benefits of ordinary life insurance
C
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Only four states of the United States have adopted all or part of the Uniform Limited Liability Company Act (ULLCA) as a state statute
Indicate whether the statement is true or false
Why is the agent able to be held liable on a contract when the existence of the agency
arrangement was not disclosed? A) Because the third party could rely on the reputation of only the agent when entering into the contract B) So that the outcome in a contract situation is the same as that for a tort C) To discourage the use of undisclosed agency arrangements D) To ensure that the principal fulfills its obligations under contracts negotiated by authorized agents E) To offset the fraud frequently present is this situation