MICHIGAN VARIABLE ANNUITIES EXAM FULLY SOLVED GRADED A+

MICHIGAN VARIABLE ANNUITIES EXAM FULLY SOLVED GRADED A+
Question: What is the accumulation phase?
Correct answer: the period during which contributions are
made to an annuity
Question: What is an accumulation unit?
Correct answer: an accounting measure, similar to a
mutual fund share,
System: used to determine an annuitant's proportionate
interest in the insurer's separate account during the
accumulation phase of a variable annuity. Both the
number and value of these units will change during the
accumulation phase
Question: What is an administration charge?
Correct answer: under an insurance or annuity contract,
the charge the insurance company makes to compensate 

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