# Series 7 Exam Prep 40, Variable Annuities Basics

Page: https://stenobird.com/podcast/open-exam-prep-7140559/series-7-exam-prep-40-variable-annuities-basics
Text version: https://stenobird.com/podcast/open-exam-prep-7140559/series-7-exam-prep-40-variable-annuities-basics.md
Podcast: [Open Exam Prep](https://stenobird.com/podcast/open-exam-prep-7140559)
Published: 2026-07-17T01:01:53+00:00
Episode link: https://open-exam-prep.captivate.fm/episode/series-7-exam-prep-40-variable-annuities-basics
Audio file: https://episodes.captivate.fm/episode/a55d83f9-59d3-4394-ba79-b8ba894557e5.mp3
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JSON: https://stenobird.com/v1/public/podcasts/open-exam-prep-7140559/episodes/series-7-exam-prep-40-variable-annuities-basics
Duration seconds: 173

## Resource

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - That variable annuity premiums are invested in a separate account, meaning the contract owner bears the investment risk. - How accumulation units are purchased during the pay-in phase and convert to a fixed number of annuity units at annuitization, resulting in a variable payout. - That all growth within a variable annuity is tax-deferred, with withdrawals taxed as ordinary income. - About key costs like surrender charges for early withdrawals and mortality and expense (M&E) charges that cover insurance guarantees. - Why variable annuities are only suitable for long-term retirement goals and generally not for seniors or those needing liquidity. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

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## Transcript

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