10 free Series 26 practice questions in the real exam format, covering the official content areas, with an explanation for every answer.
Series 26 Practice Test 2Tutor mode
Question 1 of 10
Personnel Management Activities and Registration of the Broker-Dealer
In variable annuity product training, a principal explains that the separate account behind Cormorant Life's deferred variable annuity has no board of managers and no investment adviser of its own; it simply buys shares of the underlying fund portfolios that contract owners choose. Under the Investment Company Act of 1940, how is a separate account like this typically registered?