Variable Annuities - SIE Exam, Series 6 Exam, Series 7 Exam, Series 65 Exam, and Series 66 Exam Prep

[@Series7Guru]

Must watch kzbin.info/www/bejne/lYO8Ymyqgpaee7s

[@Hannah-mg2nl]

Hey Dean! I passed my 7 today after failing the first time. I found you after I failed a month ago because I was really struggling in options suitability when questions were asking about positions a customer should take if they want income or protection based on their established option. I wouldn't have been able to fully understand those concepts without your help. When I got questions on them today I felt so relieved and confident answering them. Happy holidays and I hope you have a fantastic new year. The work you put into these videos really helped me out and made a difference in my life!

[@Series7Guru]

Kudos on your Series 7 exam testing victory! Sweeter after the initial misfortune. Glad you found my channel and it made a contribution to you making your mark this time. Wishing you and yours a bullish New Year, too!

[@williamheppding5804]

Passed my 7 today (just a few hours ago). Your content was essential for my preparation. Thank you!

[@Series7Guru]

Kudos on your Series 7 exam testing victory! What's your next testing victory? 63? 66? Always very gratifying when my content contributes to test taking victories like yours.

[@williamheppding5804]

@@Series7Guru Next up is the 66!

[@dtwsnowman4817]

Thank you for all of your work Dean. Taking my 65 exam next week and your videos have been incredibly helpful. I was wondering if you are planning to make anymore explication videos on the last parts for 65 explication (Under Client Investment Strategies, "I. Ownership and Estate Planning Techniques" & "G. ERISA issues"). Thank you!

[@Series7Guru]

Yes. Need to finish it up for sure. Thanks so much for the super chat.

[@cb5876]

Hello Dean!! I just passed my Series 7 today and want to thank you for your wonderful teaching videos! I share your channel with everyone! Merry Christmas and Wishing you a wonderful New Year!! I love your teaching style!

[@Series7Guru]

Thank you so much for your kind words and your referrals. Kudos on your Series 7 exam testing victory! Wishing you and yours a bullish New Year!

[@cb5876]

@@Series7Guru thank you so much! You are so welcomed! I have many more wonderful words for you and was simply trying to keep my comments brief, although I can go on and on! Much gratitude and love! You are changing lives with your teachings! ❤

[@techas20]

16:53 (AIR). Don’t mind me. Just making a note for when I come back to this. I’m being a knucklehead and can’t grasp the AIR concept BUT watching your video does help me a lot more than reading it in the book. I’m so glad you pointed out how the percentages don’t have much to do with the amounts bc it DOES cloud my thinking. How can something seem so easy but yet be so difficult at the same time?!

[@Series7Guru]

The insurance depends on that. Lol.

[@mariorazy]

Hello Dean, its me with the wierd username. I passed my series 7 today. Thank you for all that you do. I got a draw from hell i think. But i crushed it. Got my SIE and 63 already. Going for the 4 and maybe 10 or 24 Just want to tell who ever reads this to REALLY understand the material. I am one of the unlucky ones who got a bad draw. Saw more difficult questions than easy. But because of my deep knowledge of the products, concepts, strategies, etc. I was able to dissect each question. Hell i didnt even get a good sleep last night. But study study study. PS i only got like 15 options, maybe 10 muni bonds, 1 margin. Like 3 VAs, tons of complex suitability for sure.

[@Series7Guru]

Kudos on taking down a Series 7 draw from hell!

[@njperuviankid]

great short lesson. Thank you Dean

[@Series7Guru]

De nada

[@mignonglenn6253]

Thank you!

[@Series7Guru]

De nada

[@TheLegendaryMac]

Thank you so much for this

[@Series7Guru]

My pleasure. Seems like Variable Annuities have become more testable over the last several months.

[@trevorramos8616]

Hey Dean, I just took another Kaplan practice test and got a 75.71. I think I’m ready now

[@Series7Guru]

I agree. You got this.

[@maxcford]

So glad I watched this! I had a pit about annuities lol

[@Series7Guru]

Glad you found it helpful

[@talwinderkaur9627]

Appreciate your vidoes Dean. Passed SIE and next is series 6 any recommendations.

[@Series7Guru]

Kudos on your SIE testing victory! Check out my Series 6 playlist.

[@tampatart8156]

Do you have a video, like this one, on life insurance? Series 65?

[@Series7Guru]

No.

[@bethanywilson5971]

A client is in the annuitization stage of a variable annuity. If the separate account earned 8% during the current month, which of the following statements are correct? The next check will increase if the AIR is 5%. The next check will increase if the AIR is 10%. The number of annuity units owned will increase. The number of annuity units owned will remain the same. I had this question in Kaplan's Qbank and keep getting it wrong. The answer is 1 & 4 but I thought that if the AIR exceeds the previous month then the check will increase. Am I missing something?

[@Series7Guru]

If the AIR is 5% and return is 8% checkout goes up. If the AIR is 10% anything less than that like 8% checkout goes down.

[@bethanywilson5971]

@@Series7Guru ohhh I was completely understanding and reading this wrong. What the value of the separate account earns is not the same as the AIR! Thank you!

[@SarahSquire-k3t]

Hey Dean, Just took the 65 yesterday and missed by 3 questions. Was a strange draw for sure, I had more questions on B/D than IA/IAR. Scored the highest on Laws and regs 33 out of 39. One of the questions I had was about VAs- Bob age 62 with a non-tax qualified variable annuity, how is it taxed and is there a penalty for withdraws. The non-tax confused me, can you clarify? (I chose its taxed an income and no penalty for withdraws)

[@Series7Guru]

You answered correctly. Damn. That close miss hurts for sure.

[@bcdavis72]

Can you annuitize before age 59 1/2? And if so, does the 10% penalty apply?

[@Series7Guru]

No

[@lucasdesouza2120]

Are there any insurance questions on the series 6 ?

[@Series7Guru]

One or two on variable life

[@jennifermorales8927]

I took my series 7 on Wednesday and made a 71. I missed it by one point. I need to work in section 1 and 4 of the outline. Where can I get more details information on those sections? Thank you.

[@Series7Guru]

Damn. That hurts for sure. You can find the entire Series 7 Content Outline as a pdf on the FINRA website.

[@shanejenkins6984]

is this sufficient enough for my variable annuities license exam? I have my 7,66, and LAH now i’m taking my variable wednesday without studying

[@Series7Guru]

I have no idea. It is for FINRA and NASAA exams

[@intentionalmoneylife]

Do you have anything on life insurances?! I’m on unit 24 of the Kaplan test bank and I usually come here to look and see what you have but all I’m finding is this one. Did I miss the life insurance one somewhere?

[@Series7Guru]

What exM on you taking? There are no insurance questions on FINRA exams and only couple on NASAA exams.

[@intentionalmoneylife]

@@Series7Guru series 65. I haven’t even found the explication for insurance and annuities though I assume it’s here somewhere

[@sherwinlau5174]

I just failed the 63 and 6

[@Series7Guru]

How did you fail both at the same time? What was your scores on your vendor practice exams and your real scores?

[@LucasMargenot]

random distribution, client wants $100k - no can do, pay taxes on $100k because 10% (exclusion ratio -is that because $100,000 is 10% of $1,000,000? Think so) of $1,000,000. Lost at $100, $1000, 10%, pay taxes on $900. Can't do it random? Thank you

[@Series7Guru]

In a random distribution it is Last In First Out (LIFO).

[@LucasMargenot]

Understood. What is the actual amount permitted to be withdrawn here?@@Series7Guru

[@Quantbamaroll]

Dean- ur new mic sucks, your “S” es are harsh I hate it

[@Series7Guru]

Oh well new version will be up soon.