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Which of the following statements about dividends is not true?
Options
a. Dividends may be used to reduce the next year’s premium.
b. Dividends are taxed in the year received.
c. Dividends are the return to the policyholder of part of the premium paid for a policy issued on a participating basis by the insurer.
d. Dividends represent an excess of premiums over expenses, actual mortality, and investment experience during a period of time.
Answer: B
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