7 - Annuities (Test Only Has 10 Questions)

What type of annuity has a cash value that is based upon the performance of it's underlying investment funds?

T has an annuity that guarantees and income payments for the rest of his life. The contract also guarantees that if T dies before receiving payments for 20 years, the remaining payments will be paid to his son for the balance of the 20 years. What type of annuity is this?

Which of these is an element of a single premium annuity?

The annuity that represents the largest possible monthly payment to an individual annuitant is a(n)

Which of these statements concerning an Individual Straight Life annuity is accurate?

And individual who purchases a life annuity is given protection against

What is considered to be a characteristic of an immediate annuity?

And immediate annuity consists of a

Which type of contract liquidates and estate through recurrent payments?

P, age 50, purchased an annuity that P will fund with $500/ month for 15 years. The annuity will then pay P retirement payments after the 15 years. Which type of annuity did P purchase?

N, age 50, recently bought an annuity that will pay a guaranteed $2000/month at age 70 for life. What type of annuity did N purchase?

W is a 39-year old female who just purchased an annuity to provide income for life starting at age 60. All of these would be acceptable annuity choices except a(n)

What type of annuity has a cash value that is based upon the performance of its underlying investment fund?

T has an annuity that guarantees an income payment for the rest of his life. The contract also guarantees that if T dies before receiving payments for 20 years, the remaining payments will be paid to his son for the balance of 20 years. What type of annuity is this?

The annuity that represents the largest possible monthly payments to an individual annuitant is a(n)

Which of these statements concerning an individual straight Life annuity is accurate?

Which type of contract liquidates an estate through recurrent payments?

P, age 50, purchased an annuity that P will fun with $500/month 15 years. The annuity will then pay P retirement payments after the 15 years. What type of annuity to P purchase?

How does an indexed annuity differ from a fixed annuity?

The type of annuity that can be purchased with one monetary deposit is called a(n)