This question gives a sample policy and asks if the policy is exempt under the Canadian Exempt Policy test.
What is confusing to me is how they treat the surrender charge. I have an ACE flashcard that says Canada uses the cash value after surrender charge. The SOA solution does not remove the SC, so essentially they are doing the test before SC. Which way is correct?
What is confusing to me is how they treat the surrender charge. I have an ACE flashcard that says Canada uses the cash value after surrender charge. The SOA solution does not remove the SC, so essentially they are doing the test before SC. Which way is correct?
2014 Fall Question 4a
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