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
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