Webce annuity - Study guides, Class notes & Summaries

For whom is joint ownership of an annuity often reserved? Correct Answer spouses At what point does the beneficiary to an annuity acquire rights in the contract? Correct Answer (Wrong) upon contract issue and throughout the life of the contract, until the death of the contract owner or annuitant Generally speaking, how long is the accumulation period for immediate annuities? Correct Answer one month to one year For which of the following needs are traditional deferred annuities best sui...

Annuity- webce ACTUAL QUESTIONS AND ANSWERS 2023

Annuitization is - Answer- Accumulated values are converted into a stream of periodic income payments. How often can payments of annuities be paid out? - Answer- A specified term of years, for life, or a combination of the two. What is the reason (how has a consumer's priorities and needs shifted) that annuities are well suited for late-life retirement planning? - Answer- When a consumer priorities and needs typically shift from asset accumulation to income distribution What is the sta...

Annuitization is - Answer- Accumulated values are converted into a stream of periodic income payments. How often can payments of annuities be paid out? - Answer- A specified term of years, for life, or a combination of the two. What is the reason (how has a consumer's priorities and needs shifted) that annuities are well suited for late-life retirement planning? - Answer- When a consumer priorities and needs typically shift from asset accumulation to income distribution What is the sta...

WebCE Test 1 Questions and Answers 100% CorrectWebCE Test 1 Questions and Answers 100% CorrectWebCE Test 1 Questions and Answers 100% CorrectWebCE Test 1 Questions and Answers 100% Correct Abby lives in Ohio, where she is licensed as an insurance producer. She wants to apply for a nonresident license in Pennsylvania. Which of the following conditions must she satisfy? She must move to Pennsylvania. She must surrender her Ohio license. She must be sponsored by a producer licensed in Penn...

How to Structure an Annuity Contract WebCE questions well answered graded A+

WebCE: Long-Term Care: Programs, Policies, and Partnerships 100% Pass What is the Primary Goal of Long Term Care To maintain functionality Which of the following most precisely defines the fundamentals of self-care and the basic tasks of life? Activities of daily living Long Term Care occurs only in nursing facilities. False On what basis are benefits payable under a long term care insurance policy typically triggered? the inability to perform defined ADLs A long-term care ombudsman represen...

How to Structure an Annuity Contract WebCE questions well answered graded A+ Which term refers to structured payouts that will liquidate an annuity's invested premiums and accumulated earnings over some period of time? - annuitization At Eileen's death, Winthrop received the death benefit payable under Eileen's annuity and chose to continue the contract in his name and continue to accrue tax-deferred accumulations. What was Winthrop's relation to Eileen? - He was her spou...

WEBCE Practice Exam 100 q 1. In general, what is the earliest age at which a person can take a distribution from a qualified plan without a tax penalty?: 59 1/2 2. Carol was 35 when she bought her deferred annuity. Now, at age 38, she wants to withdraw funds from the contract to take a vacation. Carol is likely to encounter all of the following consequences in making the withdrawal EXCEPT:: statutory minimum withholding requirements

WebCE Test 1Abby lives in Ohio, where she is licensed as an insurance producer. She wants to apply for a nonresident license in Pennsylvania. Which of the following conditions must she satisfy? She must move to Pennsylvania. She must surrender her Ohio license. She must be sponsored by a producer licensed in Pennsylvania. She must show her Ohio license is in good standing. - correct answer she must show her Ohio license is in good standing An annuity settlement option with a life co...