The owner of a variable annuity has all of the following rights EXCEPT the right to vote: a. for the Board of Trustees
b. for dissolution of the trust
c. to change the separate account's investment objective
d. for the sales charge imposed by the trust

for the sales charge imposed by the trust

Explanation:

A variable annuity has a part of it to be investment and another part as insurance. The gains from it are tax deferred till the money is withdrawn.

The owner of such has the right to vote for options a, b,c that is the Board of Trustees, for trust dissolution, to change in investment objectives. But they cannot vote for for the sales charge imposed by the trust.

the answer would be voluntary exchange -

"the act of buyers and sellers freely and willingly engaging in market transactions. moreover, transactions are made in such a way that both the buyer and the seller are better off after the exchange than before it occurred."

hope this : )

-shy