QUESTION 26

1. Which financial services industry is primarily (highest percentage of regulation) regulated at the state level?

   		Registered Investment Advisors
   		Broker Dealers
   		Insurance
   		Investment Banks

3.5 points

QUESTION 27

1. Which financial services sector predominantly passes the investment risks through to their customers?

   		Commercial Banks
   		Investment Banks
   		Insurance Companies
   		Investment Managers

3.5 points

QUESTION 28

1. What type of savings vehicle is NOT reliant on the customer's investment choices?

   		401K plan
   		Variable Annuity
   		Defined Benefit Pension Plan
   		Defined Contribution Pension Plan