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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. that it's a great idea, and you plan on how you're going to spend the unexpected income.
B. both B and C.
C. that although the exchange doesn't have any tax consequences, he'll be looking at a new, longer,
surrender period.
D. that he'll have to pay the 5% deferred sales charge if he executes the exchange.
Answer: B
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,
longer, surrender period-one of the less desirable features associated with bonus annuities.
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. Live profile visibility
B. Field-Based permission
C. Role-Based permission
D. Configure label names and visibility
Answer: A
NEW QUESTION: 3
Which setup is required to ensure that the same tax is applied on both intercompany payable and intercompany receivable invoices?
A. Intercompany invoicing must be enabled in Payables Invoice Options.
B. Same tax rate code must be populated in Intercompany System Options for both Payables and Receivables invoices.
C. Receiver and provider business units and legal entities must be subscribed to the applicable tax regime on the transaction date.
D. Intercompany invoicing must be enabled in Receivables System Options.
Answer: C
NEW QUESTION: 4
What procedure does a user of IBM Security QRadar SIEM V7.2.8 need to follow to delete a dashboard?
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C. Click the "Dashboard" tab.From the Show Dashboard list box, select the dashboard that you want to delete.On the toolbar, click "Delete Dashboard".Click "Yes".
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: C
Explanation:
Explanation
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