ProductsPregunta 27 de 110
A representative who wants to sell variable life insurance must hold:
a.Only a state insurance license, because the product is an insurance contract
b.Only a securities registration, because the separate account is registered with the SEC
c.Neither, if the policy is sold through an insurance agency
d.Both a state insurance license and the appropriate securities registration
Explicación
Variable products are dual-regulated: the insurance element requires a state license, while the separate account interest is a security requiring FINRA registration through a broker-dealer. Holding just one credential is insufficient regardless of where the sale takes place. This is a central reason the Series 6 exists as a limited representative registration.
Referencia Legal: Securities Act of 1933Practica las 110 preguntas gratis — sin registro.
Preguntas relacionadas de este tema
- A 52-year-old owner of a non-qualified deferred annuity withdraws $20,000 from a contract with $60,000 of earnings and $40,000 of after-tax contributions. What is the tax result?
- When a non-qualified annuity is annuitized, the exclusion ratio is used to:
- In a scheduled premium variable life insurance policy:
- Assets supporting a variable annuity's investment performance are held in:
- Which feature distinguishes a unit investment trust from a management company?
- Shares of a closed-end investment company differ from open-end fund shares because closed-end shares:
Última revisión: · proceso editorial
Equipo Editorial de PrepPass · Verificado con FINRA Series 6 — Investment Company & Variable Contracts Rep · Cómo revisamos