Question #$12$ of $50$

Regulatory authorities would be least likely to be interested in reviewing which of the following proposed Section $1035$ exchanges?

A$)$ A $35-$year$-$old transferring the value in a whole life policy into a variable universal life policy

B$)$ A $65-$year$-$old fixed annuity owner exchanging the contract for a variable annuity that emphasizes small cap growth

C$)$ A $35-$year$-$old transferring the value in a fixed annuity into a $$50,000$ whole life policy that does not meet the $7-$pay test

D$)$ A $60-$year$-$old exchanging a variable annuity for a variable universal life contract