Which of the following would NOT be required of a producer who wants to sell variable annuities?
A) Having a valid producer life insurance license and completing the state variable annuity certification, if required
B) Registration with the Financial Industry Regulatory Authority
C) Successfully passing the required exams
D) Registration with the National Association of Insurance and Financial Advisors
Ans: D) Registration with the National Association of Insurance and Financial Advisors
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Carl Company has a monthly gross payroll of $6,000, which is subject to unemployment taxes (federal at 0.8% and state at 5.4%). All earnings are subject to 6.2% FICA taxes for Social Security, and 1.45% FICA Taxes for Medicare. Income tax (Federal and State combined) withholdings are 25% of total earnings. The entry to record the monthly Salaries Expense includes:
A) Credit to FICA - Medicare Taxes payable of $87 B) Credit to State Unemployment Taxes Payable of $324 C) Credit to Federal Unemployment Taxes Payable of $48 D) Debit to Payroll Taxes Expense of $831 E) Credit to Accrued Payroll Payable of $3,210
Organization survival is often dependent on how well the organization can adapt. Which of the following behaviours on the part of individuals is necessary for the organization to survive?
A) Being innovative. B) Being motivated to join and remain with the organization. C) Performing their work in terms of productivity, quality, and service. D) Being flexible. E) All of the above.