[SVL] Insurance 09

The period during which a person receives the annuity benefits is called the
A. accumulation period
B. payout period
C. annuitization period
D. putting in period

Under which annuity do the benefit payments begin within 12 months of the purchase?
A. An accumulated annuity
B. A deferred annuity
C. A retirement annuity
D. An immediate annuity

All of the following statements about annuities benefits vs. life insurance benefits are correct
ЕХСЕРТ
A. annuities protect against living too long
B. annuities use a lump sum of accumulated money to guarantee income payments while living
C. annuities protect against dying too soon
D. annuities can be used to liquidate an estate

All of the following are factors in determining a life annuity payout amount EXCEPT the
A. annuitant's age
B. annuitant's gender
C. payment guarantee
D. beneficiary's age

Fixed period and fixed amount are types of
A. temporary annuities
B. life-period certain annuities
C. life annuities
D. joint life annuities

Under which of the following life annuity payout options do the payments stop when the first of two annuitants die and not continue on to the survivor?
A. Joint life
B. Life only
C. Life with period certain
D. Joint life and survivor

Which of the following types of annuities is guaranteed against loss and not tied directly to the stock market?

A. Equity-indexed annuity
B. Market value adjusted
C. Fixed
D. Variable

Fixed annuities are supported by insurers
A. general account
B. personal account
C. separate account
D. high risk investment accounts

Which of the following is NOT a type of annuity product?
A. Equity-indexed
B. Retirement
C. Fixed
D. Variable

Which of the following types of annuities is guaranteed against loss and not tied directly to the stock market?
A. Equity-indexed annuity
B. Fixed
C. Market value adjusted
D. Variable

Fixed annuities are supported by insurers
A. personal account
B. separate account
C. high risk investment accounts
D. general account

Annuities exist to
A. accumulate a sum of money
B. distribute a lifetime income
C. both accumulate a sum of money and distribute a lifetime income
D. neither accumulate a sum of money nor distribute a lifetime income

Tracey is paying money into an annuity she hopes will support her in her retirement years.
Her contract currently is in which of the following periods?
A. Nonforfeiture period
B. Payout period
C. Annuity period
D. Accumulation period

Liz purchases an immediate annuity. The annuity contract must be a
A. variable annuity
B. single premium annuity
C. deferred annuity
D. fixed annuity

Which type of annuity is most likely to provide death benefits if the insured dies during the accumulation period?
A. Fixed annuity
B. Deferred annuity
C. Variable annuity
D. Immediate annuity

Which of the following factors is NOT used to
determine annuity premiums?
A. Assumed interest rate
B. Applicant's sex
C. Income amount and payment guarantee
D. Annuitant's retirement date

Which of the following types of annuities are regulated as securities?
A. Flexible annuities
B. Fixed annuities
C. Variable annuities
D. Structured annuities

An annuity that guarantees a minimum rate of return is
A. a deferred annuity
B. an immediate annuity
C. a fixed annuity
D. a variable annuity

Devon purchases an annuity that will pay a monthly income for the remainder of his life and then stop making payments. Devon has purchased
A. a variable annuity
B. a fixed annuity
C. a temporary annuity certain
D. a straight-life annuity

Albert has purchased an annuity that will pay him a monthly income for the rest of his life. If Albert dies before the annuity has paid back as much as he put into it, the insurance company has agreed to pay the difference to Albert's daughter. Albert has purchased a
A. temporary annuity
B. life with refund annuity
C. life annuity with period certain
D. straight-life annuity

Michelle purchases an annuity that offers a guaranteed minimum interest rate and a guarantee against loss of principal if the contract is held to term. However, if the S&P 500 moves upward, Michelle's annuity might end up accruing more than the guaranteed minimum interest rate. Michelle has purchased
A. an equity-adjusted annuity
B. a market value-indexed annuity
C. an equity-indexed annuity
D. a market value-adjusted annuity