Which One of the Following Statements, Is In-Correct, with Regard

Which One of the Following Statements, is In-Correct, with Regard to 'Surrender' of the Policy?

A) Surrender-Value, that is Payable to Insured, is, Usually, a Percentage of the Premiums-Paid.
B) A Policy can be surrendered, only if, it has acquired the Paid- Up Value.
C) Actual Surrender-Value, Paid to the Insured, is Always Less Than the Gross Surrender-Value.
D) Surrender-Value is Payable on Voluntary Termination of the Policy-Contract by the Insured.