Funds, Variable Products, and DPPs

Free FINRA Series 7 (General Securities Representative) lesson in Investment Products and Recommendations. 22 min read, ~3,369 words.

NAV = (Total Assets - Liabilities) / Shares Outstanding. Sales charge is calculated on POP, not NAV. 12b-1 fee caps: 0.75% distribution + 0.25% service = 1.00% max. Over 0.25% total means the fund cannot call itself no-load. Variable annuity withdrawals are taxed LIFO, earnings come out first as ordinary...