Obtain a customer signed statement acknowledging that an annuity transaction is not recommended if a customer decides to enter into an annuity transaction that is not based on the insurance producer's or insurer's recommendation.
<h3>Who is responsible for verifying your suitability?</h3>
The insurer or third party delegate authorized pursuant to section 224.
6(c) of Regulation 187 conducts a suitability review prior to the issuance of an insurance product or the effectuation of a sales transaction; and.
The insurer has procedures designed to prevent financial exploitation and abuse.
<h3>What factors are important considerations when determining suitability of an annuity sale?</h3>
Suitability Information Gathered by an Insurer
- Age.
- Annual income.
- Financial situation and needs, including the financial resources you're using to fund the annuity.
- Financial experience.
- Financial goals and objectives.
- Intended use of the annuity.
- Financial time horizon.
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Answer: . two-stage area
Explanation:
In two-stage specimen sampling, a simple random sample of specimen is selected and then a simple random sample is selected from the units in each sampled specimen. Two-stage sampling is used when the sizes of the specimens are large, making it difficult or expensive to observe all the units inside them.
Answer:
Beaver's total taxable income and federal income text paid as result of distribution is $500,000 and $105,000 respectively.
Explanation:
The computation of the taxable income and the federal income is shown below:
Taxable income = Taxable income + loss
= $500,000 + $0
= $500,000
Since the fair value is $20,000 is less than the mortgage on land i.e $25,000 so it would be a loss of $5,000 which would not be considered so we put the value zero.
And, the federal income equal to
= Taxable income × income tax rate
= $500,000 × 21%
= $105,000
the producer in this case sujid is gaining a little more money because then when the profit is increased he will get a little less money because then the people will buy it but the money will be less for the producer(s)
The correct statement is when claims are denied.
<h3>What is the commercial paper? What is the duration of the commercial paper?</h3>
The commercial papers are the short term money market instruments, that are issued by the companies which holds a good credit rating.
Usually, the maturity date of the commercial paper lies between the fifteen days or up to one year.
The companies mostly issued the commercial papers to meet their short term liabilities.
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