An individual purchasing a flexible premium variable life contract should know which of the following?
I. Timing and amount of premiums generally are discretionary.
II. The death benefit will generally be higher than that of a comparable whole life policy.
III. The face amount is fixed at the beginning of the contract.
IV. The performance of the separate account directly affects the policy's cash value.
A) I and IV.
B) I and III.
C) II and III.
D) II and IV.
Answer: A) I and IV.