1. Which of these is the least appropriate use for whole life insurance?
dependent spouse income fund
retirement need
emergency fund
mortgage retirement fund
2. All of the following statements about an ordinary (whole) life insurance policy are true, except:
There is a buildup of cash value that can be borrowed by the policyholder
It can fulfill the insured's death protection AND saving needs
Premiums can be level throughout the policy period
The face amount is paid if the insured lives to age 65