Annuities Bundled Exams Questions and Answers Multiple Versions Latest Updates (2024/2025) (Complete, Accurate, and Verified)

Annuities and Retirement Plans Lesson 6 with Complete Solutions 1. **To receive the maximum income from an annuity, which option should be selected?** - A) Immediate Annuity - B) Life with 20-Year Period Certain - C) Life Refund - D) Life Annuity - D) Life Annuity **Explanation:** The...

Annuities Questions and Answers | Latest Update | Graded A+ 1. **Who is responsible for purchasing an annuity contract?** - A) Beneficiary - B) Insurance Company - C) Annuitant - D) Contract Owner - D) Contract Owner **Explanation:** The contract owner is the person or entity that buy...

Annuities Chapter 7 Questions and Answers | Latest Update | 2024/2025 | Already Passed 1. **S has received a $500,000 lump sum retirement payout from her employer and wants an annuity that will provide a guaranteed income immediately. Which annuity is best for her needs?** - A) Flexible Pr...

Annuities Review Chapter 18/2 | Latest Update | Graded A+ 1. **What qualifications are necessary to sell variable annuities?** A. Series 6 license and state insurance registration B. State securities registration and FINRA registration C. Insurance license and SEC registration D. Series 7 ...

– Annuities Questions and Answers | Latest Version | 2024/2025 | Already Passed 1. **Which annuity payout option ensures that payments continue for life but also guarantees a minimum number of payments to beneficiaries if the annuitant dies before receiving the full benefit?** - A) Refun...

Annuities Questions and Answers | Latest Update | Graded A+ 1. **What fundamental purpose does an annuity serve?** A. To provide lump-sum payments B. To accumulate wealth C. To distribute income over a period D. To pay off debts C **Explanation:** An annuity is designed to distribut...

7 Annuities Questions and Answers | Latest Update | 2024/2025 | Rated A+ 1. **What type of annuity is best suited for S, who received a $500,000 lump sum retirement buyout and wants immediate guaranteed income for life?** A. Flexible Premium B. Indexed C. Immediate D. Variable C **Wh...

Annuities Question and Answers | Latest Update | 2024/2025 | Graded A+ **What is the term for the period during which an annuitant makes contributions to an annuity?** A. The payout period B. The accumulation period C. The annuitization phase D. The vesting period B **Why:** The accum...

Annuities Questions and Answers | Latest Version | 2024/2025 | Already Passed **What is the primary purpose of an annuity that ensures a steady income for life?** A. To replace earnings in case of disability B. To distribute a lifetime income C. To discount a principal sum D. To create a ...

Annuities Part 1 FINAL EXAM (CT 109885) Questions and Answers | Latest Version | 2024/2025 | Already Passed **Why are annuities advantageous compared to other investments?** A. They offer high returns B. They provide immediate liquidity C. The interest earned is tax deferred D. They have no...

Annuities CE Questions and Answers | Latest Update | 2024/2025 | Graded A+ **What is a primary purpose of an annuity?** A. To replace earnings upon the disability of an individual B. To distribute a lifetime income C. To discount a principal sum back to its present value D. To create a fun...

Annuities Questions and Answers | Latest Version | 2024/2025 | Already Passed **Which statement about installments for a fixed amount is NOT accurate?** The payments will cease upon the annuitant's death. **What is NOT true regarding an annuity owner?** The owner must receive the an...

Annuities Questions and Answers | Latest Version | 2024/2025 | Graded A+ **What happens when a group annuity member retires?** a. The group annuity pays the monthly income directly from the group contract. b. The retiree converts the group contract into a variable annuity. c. An individual an...

Types of Annuities | Latest Update | 100% Correct **What type of annuity is used to enhance retirement savings with tax-deferred interest during the accumulation period?** Single Premium Deferred Annuity. **What type of annuity requires the annuitant to pay consistent amounts into the po...