One of today's hottest trade debates still echoes the old debate on deficit versus surplus. In this debate, which is highlighted in this case, what is the argument pro-free traders make?

To sell variable contracts, a person must

A) hold a Certified Financial Planner designation B) be licensed as a managing general agent C) maintain a bond payable to the state D) be licensed for life insurance, maintain both federal and state securities licenses, and, in some states, have a specific variable annuity endorsement

Lewis is selling a product with some of the transaction price depending on the outcome of a future event. There is a 75% chance that the event will result in $100,000 of consideration to Lewis, and a 25% chance that the event will result in $40,000 of consideration to Lewis. Which of the following is not an appropriate estimate of the amount of uncertain consideration for purposes of Lewis estimating the transaction price?

A) $100,000. B) $85,000. C) $70,000. D) a-c are all appropriate estimates.