L&HIllinoismedium
Which of the following is NOT one of the consumer profile factors a producer must gather under 50 Ill. Adm. Code 3120 before recommending an annuity to an Illinois consumer?
AAge, annual income, and financial situation
BLiquidity needs, financial time horizon, and risk tolerance
CTax status and existing assets including life insurance holdings
Political party affiliation and voter registration status
Why this is the answer
50 Ill. Adm. Code 3120 enumerates the consumer profile information a producer must gather and document. The profile covers age, annual income, financial situation and needs, financial experience, financial objectives, intended use of the annuity, financial time horizon, existing assets including life insurance, liquidity needs, liquid net worth, risk tolerance, financial resources used to fund the annuity, and tax status. Political affiliation has no role in suitability analysis and would be inappropriate to record.
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