Which of the following statements regarding the separate account of an insurance company is true?
A) The monies in the separate account are used to make payments to all the policyholders of the company when a payment is triggered.
B) The separate account contains the monies from which the company pays its operating expenses, e .g., salaries, etc.
C) Funds from the separate account are used to make payments to fixed annuity investors.
D) The separate account must register as an investment company under the Investment Company Act of 1940.
Correct Answer:
Verified
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