Sloane is an insurance agent and he meets with his client, Darcy, for an annual review....
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Sloane is an insurance agent and he meets with his client, Darcy, for an annual review. Darcy purchased a G2 whole life insurance policy several years ago. When Darcy asks Sloane about the policy's tax implications and how the ad usted cost basis (ACB) is calculated, which of the following answers is CORRECT? A policy gain resulting from partial surrender, if included in income, will increase the ACB. A dividend paid out to the policyholder, when paid in cash, will increase the ACB. Dividends used to purchase paid-up additions will decrease the ACB. Oa) Ob) Oc) Od) interest paid on a policy loan, if not deductible, will decrease the ACB. 8888 Sloane is an insurance agent and he meets with his client, Darcy, for an annual review. Darcy purchased a G2 whole life insurance policy several years ago. When Darcy asks Sloane about the policy's tax implications and how the ad usted cost basis (ACB) is calculated, which of the following answers is CORRECT? A policy gain resulting from partial surrender, if included in income, will increase the ACB. A dividend paid out to the policyholder, when paid in cash, will increase the ACB. Dividends used to purchase paid-up additions will decrease the ACB. Oa) Ob) Oc) Od) interest paid on a policy loan, if not deductible, will decrease the ACB. 8888
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Related Book For
Probability and Statistics
ISBN: 978-0321500465
4th edition
Authors: Morris H. DeGroot, Mark J. Schervish
Posted Date:
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