When compared to a corporation, one of the major advantages of a partnership is its relative ease of formation

All of these are characteristics of a universal life insurance policy EXCEPT

A) Flexible death benefit B) Fixed surrender value C) Flexible premiums D) Builds cash value

Life insurance policy reserves

A) are always equal to the policy's cash surrender value. B) are a major asset of life insurance companies. C) are paid to the beneficiary when the insured dies. D) are a major liability of life insurance companies.