Arizona Life Insurance Exam – Annuities Review Questions And 100% Correct Answers.
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Course
Arizona Life and Health Insurance
Institution
Arizona Life And Health Insurance
Deferred - Answer Withheld or postponed until a specified time or event in the future
IRS - Answer Internal Revenue Service, the U.S. government agency responsible for collecting taxes and enforcement of the Internal Revenue Code
Life Contingency - Answer Dependent on whether or not the...
Arizona Life Insurance Exam – Annuities
Review Questions And 100% Correct
Answers.
Deferred - Answer Withheld or postponed until a specified time or event in the future
IRS - Answer Internal Revenue Service, the U.S. government agency responsible for collecting taxes and
enforcement of the Internal Revenue Code
Life Contingency - Answer Dependent on whether or not the insured is alive
Liquidation of an Estate - Answer Converting a person's net worth into a cash flow
Natural Person - Answer A human being
Qualified Plan - Answer A retirement plan that meets the IRS guidelines for receiving a favorable tax
treatment
Suitability - Answer A requirement to determine if an insurance product or an investment is appropriate
for a particular customer
Owner - Answer The _____ of the annuity has all the rights, such as naming the beneficiary and
surrendering the annuity
Annuitant - Answer The person who receives the benefits or payments from the annuity, whose life
expectancy is taken into consideration, and for whom the annuity is written
Beneficiary - Answer The person who receives annuity assets (either the amount paid into the annuity
or the cash value, whichever is greater) if the annuitant dies during the accumulation period
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