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Finra Exam Series-6 Topic 5 Question 91 Discussion
Actual exam question for
Finra's
Series-6 exam
Question #: 91
Topic #: 5
[All Series-6 Questions]
Topic #: 5
Connie Serve placed an order to purchase five, $1,000 Treasury bonds in the secondary market on Tuesday, October 12th.
Connie will be required to pay for this purchase on which day?
Suggested Answer:
D
The true statement is that the separate account must register as an investment company under the Investment Company Act of 1940. The premiums paid by investors for variable life insurance (less numerous charges) are invested in subaccounts within the separate account, and the earnings of the subaccounts are used, in turn, to make payments to the owners of variable life insurance policies, but not to any of the other policyholders of the company, such as the fixed annuity investors. The insurance company pays its operating expenses out of its general account.
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