ExitVCEDumpFINRA-SERIES-6FINRA Investment Company and Variable Contracts Products Representative (IR)
Question 42 of 49
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Q42Single choice
Which of the following statements regarding variable life insurance policies is false?
A
Policyholders have voting rights similar to those of mutual fund investors.
B
Most policies have an expense guarantee provision that establishes a firm limit on how much the insurance company can increase administrative charges.
C
Insurance companies are required to give variable life policyholders at least 24 months from the date of purchase to switch to a traditional whole life policy without having to prove insurability.
D
The surrender value of a variable life insurance policy will always be less than its cash value.