Question

I need help on questions 21,22,23 please!!

. 21. On what primary basis should Producer Lester determine the suitability of an annuity product he recommends to any of his clients? a. the facts disclosed by the client b. the advice of his more experienced colleagues c. the number and profile of other buyers who have purchased the product d. the commission he will make on the product 22. Which of the following best describes the stated purpos the NAIC Annuity Suitability Model Regulation? TIL a. to promote annuity transactions that minimize consumer complaints to state insurance regulators b. to promote annuity transactions so that more consumers will purchase annuities c. to promote annuity transactions that reduce the amount of information the consumer needs to be given to make a purchasing decision d. to promote annuity transactions that appropriately address the consumer's insurance needs and financial objectives 23. Randy is a producer who is licensed in a state that has enacted the NAIC Suitability in Annuity Transactions Model Regulation. For the sale of which of the following products must Randy abide by the compliance requirements set forth in this model? a. only traditional fixed annuities b. only indexed annuities c. only variable annuities d. fixed, indexed and variable annuities

Answer 1

21 (a)	The suitability of the annuity product that is determined by Lester to be recommended to his clients will be based on the facts disclosed by the client. Therefore the correct answer is (a) Rest answers can be an add on in the decision but cannot be a primary basis.
22 (d)	NAIC annuity suitability model regulation aims to promote annuity transactions that appropriately address the consumer's insurance needs and financial objectives. Therefore the correct answer is (d).
23 (d)	For sale of fixed, indexed and variable annuities, Randy has to abide by the NAIC annuity suitability model regulation. Therefore the correct answer is (d).