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SIE Exam Practice Question 160

Question: 160

Before a registered representative may recommend the purchase or exchange of a deferred variable annuity, he or she must have a reasonable basis to believe all of the following except:

Correct Answer: B

Explanation:

A registered representative (RR) does not need to have a reasonable basis to believe that the customer will not need the funds invested before recommending the purchase or exchange of a deferred variable annuity. The RR must have a reasonable basis to believe that the transaction is suitable, that the customer would benefit from certain features such as tax-deferred growth, and that the customer has been informed of various features such as a surrender period and surrender charge.

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