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NEW QUESTION: 1
On January 1, 2004 a father gave his daughter a $150,000 straight (ordinary) life insurance policy on his life. Premiums are paid annually. The pertinent facts about the policy are:
Date of issue: July 1, 1992
Premium paid on July 1, 2003 $2,400
Terminal reserve on July 1, 2003 15,000
Terminal reserve on July 1, 2004 18,000
What is the value of the policy for federal gift tax purposes?
A. $17,400
B. $150,000
C. $16,200
D. $17,700
Answer: D
NEW QUESTION: 2
In dealing terminology, what does "my risk" refer to?
A. the acknowledgement by the dealer receiving the quote that the rate may have to be re-quoted
B. the quoting dealer cautions the receiver of the quote that the price may have to be re-quoted at the receiver's risk
C. the market amount for which the quote is valid
D. the acknowledgement by the broker that he may be stuffed
Answer: C
NEW QUESTION: 3
A. Option B
B. Option C
C. Option F
D. Option D
E. Option A
F. Option E
Answer: A,D,F