For variable annuities and mutual funds, voting rights are allocated as one vote per unit or share.

• A. One vote per unit or share
• B. One vote per $100 of cash value
• C. One vote per 1,000 dollars of cash value
• D. One vote per policy

Answer: (A)

Voting rights follow ownership stake. In both mutual funds and variable annuities, each unit or share you own represents one vote in fund governance or separate-account matters, so your influence is proportional to the number of units you hold. This means voting is not based on the dollar value of your investment, nor per policy, but per unit or share. The per-unit approach ensures that larger holdings simply have more votes in line with their greater stake.