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5/52 - Refers to 5 days per week and 52 weeks per year for customer service, support, or availability.

7/52 - Refers to 7 days per week and 52 weeks per year for customer service, support, or availability.

24/7 - Refers to 24 hours per day and 7 days per week for customer service, support, or availability. Sometimes, it is written as 7/24.

1035 Exchange - Is a transaction that permits the exchange of a life insurance contract for another insurance contract or annuity. It can be with the same or different company. It is important to research the specifics because some of the product exchanges only work one way. For example, an annuity can not be exchanged for a life policy.

1099-B - Is a form that reports redemptions and exchanges to the Internal Revenue Service (IRS) from accounts other than money market and retirement. It also reports gross proceeds from sales of stocks, bonds, commodities, futures, and forward contracts.

1099-DIV - Is a form that reports taxable dividends and capital gains from mutual funds to the Internal Revenue Service (IRS).

1099-G - Is a form that reports state income tax refunds and unemployment compensation to the Internal Revenue Service (IRS).

1099-INT - Is a form that reports interest payments made to the taxpayer to the Internal Revenue Service (IRS).

1099-MISC - Is a form that reports rents, royalties, personal service or profession income, and other miscellaneous income to the Internal Revenue Service (IRS).

1099-OID - Is a form that reports Original Issue Discounts, which are a form of interest payment, to the Internal Revenue Service (IRS).

1099-R - Is a form that reports retirement plan distributions to the Internal Revenue Service (IRS). It covers annuities, IRAs, pensions, profit-sharing, and simplified employee pensions (SEPs).

1099-S - Is a form that reports real estate sales to the Internal Revenue Service (IRS).

12b-1 Fees - Are charges assessed against an individual's mutual fund holdings for marketing and distribution expenses.

401K Plan - Is a retirement plan that the employee can set aside a portion of his or her income. The actual dollar amount is subject to annual change. Benefits of the plan are that it affords portability, reduces the employee's annual gross income for tax purposes, and the employee's contributions are immediately vested. Balances are allowed to grow on a tax-free basis and there are provisions for employer contributions as well.

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