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Annuity Suitability Certification Training Final ExamAn investor purchased a variable annuity from a financial adviser in her bank's investment services department. In the event of financial failure of the insurer, the annuity contract value is A. Protected by FDIC coverage B. Protected by SIPC...

Annuity Suitability and UsesAnnuity Suitability and Uses - correct answer Annuities have many uses. They can be used purely as a means to regularly distribute a given sum of money (immediate annuities). Or, they can be used to accumulate funds on a tax-deferred basis for future use (deferred annuiti...

Annuity Agent TrainingChapter 1 Review Questions - correct answer 1. Which of the following influenced insurers to introduce variable annuities? I. the post-war economic boom II. consumers' experience with mutual funds III. consumer demand a. I and II only b. I and III only c. II and ...

Annuity - Annuitization is - correct answer Accumulated values are converted into a stream of periodic income payments. How often can payments of annuities be paid out? - correct answer A specified term of years, for life, or a combination of the two. What is the reason (how has a consumer'...

Annuitiesin an Annuity. It will be taxed when its paid out to the annuitant - correct answer All growth is tax differed in what Deffered Annuity, - correct answer What are premiums that are being paid to the insurance company considered Is when the insurance company is liquidating a lump sum o...

Annuities Quiz QuestionsThe principle use of a Life Annuity is to Provide for the beneficiary's lifetime income Arrange an income for old age Provide for the liquidation of debts at retirement Create capital for the annuitant's heirs - correct answer Arrange an income for old age If a...

Annuities CEWhich of the following is a purpose of the annuity? A. The replacement of earnings upon the disability of an individual B. The distribution of a lifetime income C. The discounting of a principal sum back to its present value D. The creation of a fund at the earth of an individual -...

AML Exam (CE) 1. The information an insurance agent must collect for customer identification purposes depends on a. the amount of money the customer is worth. b. The amount of money the customer spends. c. whether the insurance product the customer is purchasing at a low or high risk for money l...

2-15 WebCE problemsFor which of the following will a Medicare participant have to pay all of the costs? eyeglasses 3 multiple choice options John's health insurance policy is reinstated on the tenth of the month. He gets sick on the eighteenth and is treated. The policy has a $1,000 dedu...

WebCE PE Only - Life Insurance As a legal contract, a life insurance requires all of the following elements, EXCEPT: - correct answer basis As a legal contract, a life insurance policy requires three elements: offer, acceptance, and consideration. With respect to annuity death benefits, all t...

Practice Exam WEBCE #2If Rick withdraws funds from his universal life insurance policy, what will be the effect on the policy's death benefit? - correct answer It will be reduced by the amount of the withdrawal. All of the following uses for life insurance in a business represent a valid insurab...

WebCE Practice ExamsWhich medical plan covers doctor visits while the insured is in the hospital and physical therapy treatments following release from the hospital? limited medical policy basic hospital expense policy comprehensive major medical insurance supplementary major medical insurance...

Annuity - WebCE Risk - correct answer Chance of loss 5 Risk or Loss Factors - correct answer 1. Risk 2. Loss 3. Exposure 4. Peril 5. Hazard Insurance allows: - correct answer Individual or group to transfer over to insurance company the risk of financial loss from a destructive event Fundam...

WebCE Exam 1 Study - Annuities Shirley is financially responsible for her minor children but has never owned life insurance. She wants to purchase life insurance after being diagnosed with a possibly terminal disease. Which of the following characterizes her desire to purchase life insurance? a. c...

WebCE PE Only - Health Insurance Which of the following is NOT characteristic of a major medical plan? - correct answer coverage of cosmetic surgery Under a disability income insurance policy's social insurance supplement rider, what happens to the policy's benefit payments if the disabled i...

How to Structure an Annuity Contract Which term refers to structured payouts that will liquidate an annuity's invested premiums and accumulated earnings over some period of time? - correct answer annuitization At Eileen's death, Winthrop received the death benefit payable under Eileen's annu...

4-Hour Annuity Suitability and Best Interest StandardsWhat is the primary difference between fixed and variable annuities? a. the frequency of the product's premium payments b. the option for annuitization c. the ways in which their funds are invested for growth d. provisions for death benefits...