This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and CFP designation. He is passionate about opening up information to help everyone prepare better for financial certification exams. This episode covers content for the SIE Exam.

In this episode you will learn:
- Why variable annuities are considered hybrid products, regulated as both insurance and securities.
- The role of the separate account and its subaccounts in providing investment exposure and variable returns.
- How accumulation units function during the pay-in phase and why their number changes.
- The process of annuitization and why the number of annuity units becomes fixed for the payout phase.
- A mnemonic to distinguish between the changing number of accumulation units and the fixed number of annuity units.

For more resources visit https://open-exam-prep.com/ and connect on LinkedIn at https://linkedin.com/in/chenran818

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