Nabil is an insurance agent and his client, Bernardo, is the power of attorney for his...

 

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Nabil is an insurance agent and his client, Bernardo, is the power of attorney for his sister Larissa. Bernardo completes an application for a segregated fund contract on Larissa's behalf. Bernardo would also like to name Larissa's daughter, Tatianna, as the beneficiary. Larissa is not mentally capable of entering into the contract on her own. Which of the following is CORRECT? Bernardo can only make changes to an existing contract, he cannot enter into a new contract on Larissa's behalf. Bernardo can complete and sign the application on Larissa's behalf, but he cannot name her daughter as the beneficiary. The segregated fund investment will be based on Bernardo's investor profile because he is the power of attorney. In addition to being the power of attorney, Bernardo is also considered the annuitant of the segregated fund contract. Oa) Ob) Oc) Od) 88 88 Nabil is an insurance agent and his client, Bernardo, is the power of attorney for his sister Larissa. Bernardo completes an application for a segregated fund contract on Larissa's behalf. Bernardo would also like to name Larissa's daughter, Tatianna, as the beneficiary. Larissa is not mentally capable of entering into the contract on her own. Which of the following is CORRECT? Bernardo can only make changes to an existing contract, he cannot enter into a new contract on Larissa's behalf. Bernardo can complete and sign the application on Larissa's behalf, but he cannot name her daughter as the beneficiary. The segregated fund investment will be based on Bernardo's investor profile because he is the power of attorney. In addition to being the power of attorney, Bernardo is also considered the annuitant of the segregated fund contract. Oa) Ob) Oc) Od) 88 88

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Answer C It must be ... View the full answer