SIE: Exercise

Exercise

Answer the following questions.

1. 1. Which comes first, the payout phase or the accumulation phase? _____
2. 2. There is a _____ penalty on withdrawals from variable annuities before the age of _____.
3. 3. In a fixed annuity, the customer’s investment is deposited in a [separate account/general account], while in a variable annuity, the customer’s investment is deposited in a [separate account/general account].
4. 4. The free-look period for a variable annuity is typi