ProductsCâu 28 / 110
Assets supporting a variable annuity's investment performance are held in:
a.The insurer's general account, where they are backed by the insurer's claims-paying ability
b.A custodial bank account owned directly by the contract holder
c.A separate account, which is registered as an investment company and holds the underlying subaccounts
d.The broker-dealer's proprietary trading account
Giải thích
Variable annuity assets sit in a separate account that is legally insulated from the insurer's creditors and registered under the Investment Company Act of 1940, usually as a unit investment trust. The general account backs fixed products, where the insurer bears the investment risk. Contract holders own an interest in the separate account, not the securities themselves, and no broker-dealer account is involved.
Trích dẫn luật: Investment Company Act of 1940Luyện miễn phí toàn bộ 110 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- When a non-qualified annuity is annuitized, the exclusion ratio is used to:
- In a scheduled premium variable life insurance policy:
- A representative who wants to sell variable life insurance must hold:
- 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:
- An open-end investment company may issue:
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Đội Ngũ Biên Tập PrepPass · Đối chiếu với FINRA Series 6 — Investment Company & Variable Contracts Rep · Quy trình kiểm tra