How many of the January 2009 call options are in-the-money?

Loans obtained by a policyowner against the cash value of a life insurance policy

A) are treated as taxable income B) would not be treated as taxable income C) are limited by the face amount of the policy D) would be subject to a Federal estate tax

A loan covering more than one property would be a

a. compound loan. b. blanket encumbrance. c. subordinated loan. d. reverse mortgage.