Variable Products Exam Questions with Correct Answers 100% Verified

Variable Products Exam Questions with Correct Answers 100% Verified All of the following are incorrect about variable annuities EXCEPT - Correct Answer The amount of the monthly income payout is not guaranteed. Mr and Mrs Williams have purchased a joint and two-thirds survivor immediate variable annuity. Upon the death of the first of them, the survivor will receive - Correct Answer A monthly payment for life that is equal to two-thirds of what the annuity units would have provided prior to the death of the first annuitant All of the following are disclosed prior to or concurrent with the application for variable life insurance policy EXCEPT - Correct Answer A statement of the net investment returns of the separate account for each of the last 5 years for which the separate account was in existence When applying to purchase a variable annuity, all of the following disclosures are required EXCEPT - Correct Answer the tax status of the payout The application for a variable life insurance policy must contain all of the following EXCEPt - Correct Answer None of these are exceptions In a universal life policy, the premium "suggested" by the issuer is called - Correct Answer a target premium A variable annuity contract owner paid a $300 premium on a date when the accumulation unit price was $6.60. How many units were acquired? - Correct Answer 45.45 If a variable policy owner stops paying premiums and gives no notice to the insurer, which of the following is likely to occur? - Correct Answer The cash value in the policy will be used to purchase extended term insurance All of the following sub accounts share a similar investment objective EXCEPT - Correct Answer Money Market Account Bob just bought a $50,000 variable life policy. Which of the following is NOT true. - Correct Answer At his death, his beneficiaries may receive less than $50,000 in proceeds Compared to traditional life and annuity contracts, variable products have more? - Correct Answer Compliance issues The net investment return represents - Correct Answer the amount credited to the policyholder