I couldn't find any real differences. Payments into both fixed and variable annuities are made from after-tax dollars, meaning that the investor can’t write the payments off on her taxes. Press J to jump to the feed. Cookies help us deliver our Services. And I think that’ll help broker-dealer firms as well maybe be a little bit more willing to hire young people knowing that they’ve already passed the SIE exam. As you can imagine, this type of annuity is typically set up for a husband and wife. Because variable annuities are considered securities and fixed annuities are not, most of the annuity questions on the Series 7 exam are about variable annuities. Now, the total length won’t be all that different because, again, you’ll have to take both the SIE exam and a shortened subsequent top-off exam for the Series 6 or the Series 7. Sorry, your blog cannot share posts by email. The SIE replaces portions of every previous exam, including the Series 6, Series 7, Series 22, Series 55/56 (replaced by Series 57), Series 79, Series 82, Series 86/87, and Series 99. The Series 7 exam tests you on the two basic types of annuities: fixed and variable. We welcome students, current Registered Representatives and anyone who is curious. Particularly for college students and young entrants to the profession, given that college students studying financial planning are likely going to be pushed to take the SIE exam before they graduate to get started as a financial advisor. If the wife dies first, the husband receives payments until his death and vice versa.