Practice question
A buyer has twelve qualifying paid years. Counted payments comprise PHP 3,500,000 in installments and PHP 500,000 in downpayment and deposit. What is the Section 3 cash surrender value?
- PHP 3,400,000
- PHP 2,975,000
- PHP 2,000,000
- PHP 3,600,000
- PHP 4,000,000
Legal references
- RA6552, Sections3-7: https://lawphil.net/statutes/repacts/ra1972/ra_6552_1972.html
Answer this question in flashcards to review your response and continue practicing.