If an income account has a favorable variance, then actual family income is less than budgeted family income

The declaration date is the date the corporation records that stockholders will receive dividend checks

Indicate whether the statement is true or false

Jenna owns a policy in which the premium at the inception of the policy is lower than the continuous premium whole life rate and then increases each year for the first 5 years of the policy period. After 5 years, the premium levels off. What type of policy does Jenna own?

A) Graded premium whole life B) Minimum deposit whole life C) Step-rate premium life D) Modified whole life"