Questions: Multiple Choice - Profile 1 - Microsoft Edge https://my.xcelsolutions.com/scorm/defaultui/player/modern.html?configuration=Cost%7C0%21Credit%7C0%21CustomerlD%7C0% 21 DuplicateFromID%7C0%21ExistingCourselD%7C0%211sR... Progress ก X C E L Insurance Training-cula Multiple Choice Under Florida law, a variable annuity policyowner must be notified of the accumulated value of the contract A. 0 once each year B. twice each year C. only when requested by the policyowner D. once each month submit 9 of 152 Previous Next 514 PM 1/5/2025

Multiple Choice - Profile 1 - Microsoft Edge https://my.xcelsolutions.com/scorm/defaultui/player/modern.html?configuration=Cost%7C0%21Credit%7C0%21CustomerlD%7C0% 21 DuplicateFromID%7C0%21ExistingCourselD%7C0%211sR... Progress ก X C E L Insurance Training-cula Multiple Choice Under Florida law, a variable annuity policyowner must be notified of the accumulated value of the contract A. 0 once each year B. twice each year C. only when requested by the policyowner D. once each month submit 9 of 152 Previous Next 514 PM 1/5/2025
Transcript text: Multiple Choice - Profile 1 - Microsoft Edge https://my.xcelsolutions.com/scorm/defaultui/player/modern.html?configuration=Cost\%7C0\%21Credit\%7C0\%21CustomerlD\%7C0\% 21 DuplicateFromID\%7C0\%21ExistingCourselD\%7C0\%211sR... Progress ก $X C E L$ Insurance Training-cula Multiple Choice Under Florida law, a variable annuity policyowner must be notified of the accumulated value of the contract A. 0 once each year B. twice each year C. only when requested by the policyowner D. once each month submit 9 of 152 Previous Next 514 PM 1/5/2025
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Solution

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The answer is A: once each year.

Explanation for each option:

A. Once each year - This is the correct answer. Under Florida law, insurance companies are required to provide policyowners with an annual statement detailing the accumulated value of their variable annuity contracts.

B. Twice each year - This option is incorrect. Florida law does not mandate that policyowners be notified twice a year.

C. Only when requested by the policyowner - This option is incorrect. While policyowners can request information at any time, the law requires an annual notification regardless of a request.

D. Once each month - This option is incorrect. Monthly notifications are not required by Florida law for variable annuity contracts.

In summary, Florida law mandates that policyowners of variable annuities receive an annual notification of the accumulated value of their contracts.

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