7 - Annuities (Test only has 10 questions)

What type of annuity has a cash value that is based upon the performance of it's underlying investment funds?

Variable

T has an annuity that guarantees and income payments for the rest of his life. The contract also guarantees that if T dies before receiving payments for 20 years, the remaining payments will be paid to his son for the balance of the 20 years. What type of annuity is this?

Life Annuity with period Certain

Which of these is an element of a single premium annuity?

Lump-sum payment

The annuity that represents the largest possible monthly payment to an individual annuitant is a(n)

Straight life annuity

Which of these statements concerning an Individual Straight Life annuity is accurate?

Payments are made to an annuitant for life

And individual who purchases a life annuity is given protection against

The risk of living longer than expected

What is considered to be a characteristic of an immediate annuity?

Benefit payments start within one payment period of purchase

And immediate annuity consists of a

Single premium

Which type of contract liquidates and estate through recurrent payments?

Annuity

P, age 50, purchased an annuity that P will fund with $500/ month for 15 years. The annuity will then pay P retirement payments after the 15 years. Which type of annuity did P purchase?

Deferred

N, age 50, recently bought an annuity that will pay a guaranteed $2000/month at age 70 for life. What type of annuity did N purchase?

Fixed deferred

W is a 39-year old female who just purchased an annuity to provide income for life starting at age 60. All of these would be acceptable annuity choices except a(n)

Immediate annuity

What type of annuity has a cash value that is based upon the performance of its underlying investment fund?

Variable

T has an annuity that guarantees an income payment for the rest of his life. The contract also guarantees that if T dies before receiving payments for 20 years, the remaining payments will be paid to his son for the balance of 20 years. What type of annuity is this?

Life annuity with Period Certain

The annuity that represents the largest possible monthly payments to an individual annuitant is a(n)

Straight life annuity

Which of these statements concerning an individual straight Life annuity is accurate?

Payments are made to an annuitant for life

Which type of contract liquidates an estate through recurrent payments?

Annuity

P, age 50, purchased an annuity that P will fun with $500/month 15 years. The annuity will then pay P retirement payments after the 15 years. What type of annuity to P purchase?

Deferred

How does an indexed annuity differ from a fixed annuity?

Indexed annuity owners receive credit interest tied to the fluctuations of the linked index

The type of annuity that can be purchased with one monetary deposit is called a(n)

Immediate annuity

7 - Annuities (Test only has 10 questions) - Subjecto.com

7 – Annuities (Test only has 10 questions)

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What type of annuity has a cash value that is based upon the performance of it’s underlying investment funds?

Variable

T has an annuity that guarantees and income payments for the rest of his life. The contract also guarantees that if T dies before receiving payments for 20 years, the remaining payments will be paid to his son for the balance of the 20 years. What type of annuity is this?

Life Annuity with period Certain

Which of these is an element of a single premium annuity?

Lump-sum payment

The annuity that represents the largest possible monthly payment to an individual annuitant is a(n)

Straight life annuity

Which of these statements concerning an Individual Straight Life annuity is accurate?

Payments are made to an annuitant for life

And individual who purchases a life annuity is given protection against

The risk of living longer than expected

What is considered to be a characteristic of an immediate annuity?

Benefit payments start within one payment period of purchase

And immediate annuity consists of a

Single premium

Which type of contract liquidates and estate through recurrent payments?

Annuity

P, age 50, purchased an annuity that P will fund with $500/ month for 15 years. The annuity will then pay P retirement payments after the 15 years. Which type of annuity did P purchase?

Deferred

N, age 50, recently bought an annuity that will pay a guaranteed $2000/month at age 70 for life. What type of annuity did N purchase?

Fixed deferred

W is a 39-year old female who just purchased an annuity to provide income for life starting at age 60. All of these would be acceptable annuity choices except a(n)

Immediate annuity

What type of annuity has a cash value that is based upon the performance of its underlying investment fund?

Variable

T has an annuity that guarantees an income payment for the rest of his life. The contract also guarantees that if T dies before receiving payments for 20 years, the remaining payments will be paid to his son for the balance of 20 years. What type of annuity is this?

Life annuity with Period Certain

The annuity that represents the largest possible monthly payments to an individual annuitant is a(n)

Straight life annuity

Which of these statements concerning an individual straight Life annuity is accurate?

Payments are made to an annuitant for life

Which type of contract liquidates an estate through recurrent payments?

Annuity

P, age 50, purchased an annuity that P will fun with $500/month 15 years. The annuity will then pay P retirement payments after the 15 years. What type of annuity to P purchase?

Deferred

How does an indexed annuity differ from a fixed annuity?

Indexed annuity owners receive credit interest tied to the fluctuations of the linked index

The type of annuity that can be purchased with one monetary deposit is called a(n)

Immediate annuity

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