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Series 6 Investment Company and Variable Contracts (Series6 ) Practice Tests & Test Prep by Exam Edge - Topics



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Understanding what is on the Series 6 Investment Company and Variable Contracts exam is crucial step in preparing for the exam. You will need to have an understanding of the testing domain (topics covered) to be sure you are studying the correct information.

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There is no doubt that this is a strategic step in achieving certification and advancing your career.

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Series 6 Invest Company Variable Contracts Exam Exam Blueprint

Understanding the exact breakdown of the Series 6 Invest Company Variable Contracts Exam test will help you know what to expect and how to most effectively prepare. The Series 6 Invest Company Variable Contracts Exam has multiple-choice questions The exam will be broken down into the sections below:

Series 6 Invest Company Variable Contracts Exam Exam Blueprint
Domain Name % Number of
Questions
Regulatory fundamentals and business development 22% 22
Evaluates customers’ financial information, identifies investment objectives, provides information on investment products, and makes suitable recommendations 47% 47
Opens, maintains, transfers and closes accounts and retains appropriate account records 21% 21
Obtains, verifies, and confirms customer purchase and sale instructions 10% 10

Series 6 Invest Company Variable Contracts Exam - Exam Topics Sample Questions

The payout phase of a variable annuity is known as which of the following?

Correct Answer:
annuity phase


the correct answer to the question, "the payout phase of a variable annuity is known as which of the following?" is "annuity phase."

the annuity phase, often also referred to as the distribution phase, is the period during which the accumulated funds in the annuity are paid out to the annuitant. this phase contrasts with the accumulation phase, where the annuitant makes contributions to the annuity, which are then invested by the annuity provider. the annuity phase begins when the annuitant decides to start receiving payments, which can be structured in various ways depending on the terms of the contract and the choices of the annuitant.

during the annuity phase, the annuitant typically has several options for how the payments are received. these can include life annuity, which provides payments for the remainder of the annuitant's life; joint and survivor annuity, offering payments that continue to a spouse after the annuitant's death; or fixed period annuity, which pays out over a set number of years. the specific type of annuity chosen will affect the amount and duration of the payments.

it's important to note that when an annuitant chooses to annuitize the contract, they generally enter into an irrevocable agreement with the annuity provider, in which the terms cannot be altered after the annuity phase has begun. this decision should be made with careful consideration of the annuitant's financial needs and goals for retirement.

other terms such as "accumulation phase," "performance phase," and "termination phase" refer to different aspects of an annuity or investment lifecycle but do not describe the payout phase of a variable annuity. the accumulation phase is when contributions are made and invested, the performance phase could informally refer to how the investments within the annuity are performing during the accumulation phase, and the termination phase might be used colloquially to refer to the end of the annuity contract, typically after all payments have been made. however, the precise term for the payout period is the "annuity phase."