XCEL CHAPTER 9 EXAM QUESTIONS WITH COMPLETE VERIFIED SOLUTIONS LATEST UPDATE
Kathy's annuity is currently experiencing tax-deferred growth until she retires. Which phase is this annuity in?
A. Payout period
B. Accumulation period
C. Deferred period
D. Growth period
Accumulation period
Mari...
Kathy's annuity is currently experiencing tax-deferred growth until she retires.
Which phase is this annuity in?
A. Payout period
B. Accumulation period
C. Deferred period
D. Growth period
Accumulation period
Maria would like an annuity that provides a guaranteed accumulation or payout.
The type of annuity she is seeking is called?
variable payout
fixed accumulation
interest guaranteed
annuity certain
Annuity certain
An annuity is primarily used to provide?
A. retirement income
B. disability income
, C. long-term care benefits
D. death benefits
retirement income
What is the primary reason for buying an annuity?
A. Provide tax-free income
B. Provide a risky, yet high return investment
C. Provide an instant estate
D. Provide future economic security
Provide future economic security
The taxable portion of each annuity payment is calculated using which method?
A. Exclusion Ratio
B. Taxable Ratio
C. Cost Basis
D. Tax Basis
Exclusion ratio
If the annuitant dies before the annuity start date?
A. the benefits will be given tax-free only to a stated beneficiary
B. nothing is given to the beneficiary
C. the premiums paid will be given to the beneficiary
D. the premiums paid plus interest earned will be given to the beneficiary
The premiums paid plus interest earned will be given to the beneficiary
Which of these statements regarding the annuitant is CORRECT?
A. The contract can only be assigned by the annuitant
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller NurseAdvocate. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.99. You're not tied to anything after your purchase.
