Life · Chapter 21 · Suitability
Suitability Information (12 Items)
Definition
Consumer information appropriate to determining the suitability of a recommendation: age; annual income; financial situation and needs (including the resources funding the annuity); financial experience; financial objectives; intended use of the annuity; financial time horizon; existing assets (including investment and life insurance holdings); liquidity needs; liquid net worth; risk tolerance; and tax status.
In plain English
A financial X-ray: who you are, what you have, what you need the money to do, and when.
Exam tip
Exam questions like the NOT-form: things like a beneficiary's occupation, health history, or driving record are not on the suitability list.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
Related terms