Series 6 Exam Question

Here is a great example of a series 6 exam question:

Which of the following statements is (are) true of a variable annuity's separate account?




I. It is used for the investment of monies paid by variable annuity contract holders

II. It is separate from the insurance company's general investments

III. It is operated in a manner similar to an investment company

IV. It is as much a security as it is an insurance product
 
A) I only
B) II and III
C) I and IV
D) I, II, III, IV
 
D) The separate account is used for the monies invested in variable annuities. It is kept separate from the general account and operated very much like an investment company. It is considered both an insurance product and an investment product.
 
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