12-GA-62 Variable Products Exam ACTUAL
QUESTIONS AND DETAILED SOLUTIONS LATEST
UPDATE THIS YEAR(2026/2027)!!!
Accumulation Phase - ANSWER-The Period During which
the contributions are made to an annuity
Accumulation Unit - ANSWER-An accounting measure,
similar to a mutual fund share used to determine an
annuitant's proportionate interest in the insurer's separate
account during the accumulation phase of a variable
annuity
,Administration Charge - ANSWER-Under an insurance or
annuity contract, the charge the insurance company
makes to compensate for maintaining records, accounting
and reports generation
Annuitant - ANSWER-A person who receives the
distribution from an annuity contract
Annuity Phase - ANSWER-The period after annuitization
during which annuity payments are made to an annuitant
Annuity Unit - ANSWER-An accounting measure used to
determine the amount of each payment to the annuitant
during the annuity (payout) phase of a Variable Annuity.
, The number of annuity units, once calculated at the
annuitization date, never changes
Assumed Interest rate (AIR) - ANSWER-An assumption,
built into variable annuity contracts, of the minimum rate of
return the issuer expects to receive and that forms the
basis for an initial annuity payment as well as a "floor from
which to measure gain.
Combined ("Balanced") Annuity - ANSWER-An annuity
providing for payments that derive from both fixed and
variable annuity accounts.
QUESTIONS AND DETAILED SOLUTIONS LATEST
UPDATE THIS YEAR(2026/2027)!!!
Accumulation Phase - ANSWER-The Period During which
the contributions are made to an annuity
Accumulation Unit - ANSWER-An accounting measure,
similar to a mutual fund share used to determine an
annuitant's proportionate interest in the insurer's separate
account during the accumulation phase of a variable
annuity
,Administration Charge - ANSWER-Under an insurance or
annuity contract, the charge the insurance company
makes to compensate for maintaining records, accounting
and reports generation
Annuitant - ANSWER-A person who receives the
distribution from an annuity contract
Annuity Phase - ANSWER-The period after annuitization
during which annuity payments are made to an annuitant
Annuity Unit - ANSWER-An accounting measure used to
determine the amount of each payment to the annuitant
during the annuity (payout) phase of a Variable Annuity.
, The number of annuity units, once calculated at the
annuitization date, never changes
Assumed Interest rate (AIR) - ANSWER-An assumption,
built into variable annuity contracts, of the minimum rate of
return the issuer expects to receive and that forms the
basis for an initial annuity payment as well as a "floor from
which to measure gain.
Combined ("Balanced") Annuity - ANSWER-An annuity
providing for payments that derive from both fixed and
variable annuity accounts.
