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Your client bought a variable annuity contract that has a 5% contingent deferred sales charge with a
7 -year surrender period four years ago. He has been reading about bonus annuities and 1035 exchanges
and has asked for your advice. You can tell him:
A. both B and C.
B. that although the exchange doesn't have any tax consequences, he'll be looking at a new, longer,
surrender period.
C. that he'll have to pay the 5% deferred sales charge if he executes the exchange.
D. that it's a great idea, and you plan on how you're going to spend the unexpected income.
Answer: A
Explanation:
If your client bought a variable annuity contract with a 7-year surrender period four years ago,
you can tell him that even though there will be no tax consequences associated with the exchange, he'll
have to pay the 5% deferred sales charge if he executes the exchange, and he'll be looking at a new,
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NEW QUESTION: 2
This feature allows managers and employees to see an individual employee view of the Variable Pay bonus plan.
Please choose the correct answer.
Response:
A. Role-Based permission
B. Live profile visibility
C. Configure label names and visibility
D. Field-Based permission
Answer: B

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C. Intercompany invoicing must be enabled in Receivables System Options.
D. Same tax rate code must be populated in Intercompany System Options for both Payables and Receivables invoices.
Answer: A

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D. Click the "Dashboard" tab.On the toolbar, click "Delete a Dashboard".From the Delete Dashboard window, select the dashboard that you want to delete.Click "Yes".
Answer: B
Explanation:
Explanation

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