Property rights can be violated in two ways—through private action and through public action.

Helen has just taken out a modified whole life policy. Which of the following statements is CORRECT?

A) The face amount will be lower during the next few years and then be increased to a higher, constant level. B) The face amount will be higher during the next few years and then remain constant at a lower level. C) The premium will be higher during the next few years and then remain constant at a lower level. D) The premium will be lower during the next few years and then be increased to a higher, constant level."

When a life insurance beneficiary is revocable,

A) the policyowner can change that beneficiary at any time with written notice B) the policyowner is limited with respect to how many times he can change the beneficiary during the policy's term C) the policyowner and the beneficiary share ownership of the policy D) the policyowner may only change the beneficiary with the beneficiary's consent"