American_Bankers_Association
CTFA · Question #5
CTFA Question #5: Real Exam Question with Answer & Explanation
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Question
Under an employer's group life assurance policy, what is the normal tax treatment of the death benefit?
Options
- AIt is liable to Inheritance Tax
- BIt is liable to Capital Gains Tax
- CIt is liable to Income Tax
- DIt is not liable to any form of taxation
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