1. Harold is 61 years old and his wife just turned 60. He wants your advice about whether he should start claiming Social Security benefits as soon as he turns 62 in a few months. Which of the following considerations is least important:
a) Long-term disability coverage b.) Estimated Social Security benefits c.) Other financial goals and assets d.) Family longevity and health history.
2. Which of the following statements is false?
a) Federal law does not require those selling a group annuity contract with multiple investment choices including equity funds to have a securities license or to provide a prospectus if it is sold to a qualified plan.
b) If you are licensed to sell life insurance and fixed annuities in your own state, you can sell those same products in all states except New York without additional licensing.
c) In almost all states, it is illegal to rebate commissions.
d) The minimum licensing requirements in most states for selling variable annuity contracts are proper state life and annuity licenses and a Series 6 securities license.