Series 6 - Investment Company And Variable Contracts Products Representative Exam

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Which of the following statements about contract exchanges is true?

No medical underwriting is required for the exchange.
A
The length of time the exchange privilege is in effect may be between 6 to 18 months.
B
If a contract is exchanged, the new whole life policy has the date of the exchange as its issuance date.
C
If a contract is exchanged, the whole life policy's death benefit is the maximum guaranteed in the variable life policy.
D

Explanations

In contract exchanges, no medical underwriting (evidence of insurability) is required.

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