District Of Columbia Insurance Producer License Exam

A DC variable annuity's 'separate account' is best described as:

An account held by the state insurance guaranty fund An investment account where the premium is invested in sub-accounts such as mutual fund-like portfolios, with returns tied to market performance A savings account that guarantees principal A trust account managed by the DC Insurance Commissioner

Correct Answer:

An investment account where the premium is invested in sub-accounts such as mutual fund-like portfolios, with returns tied to market performance

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