Immediate annuity - Study guides, Class notes & Summaries
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Ethics - LLQP exam(answered graded a+)
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iana is a new life insurance agent and is studying the requirements for ascertaining the clientâs identity 
under the Proceeds of Crime (Money Laundering) and Terrorist Financing Actand Financial Transactions 
and Reports Analysis Centre of Canada (FINTRAC) guideline 6A. 
For which of the following products must agents ascertain the clientâs identity? 
1. Immediate annuity and deferred annuity 
2. Exempt life insurance policy and TFSA 
3. Deferred annuity and exempt life insurance policy 
4. D...
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How to Structure an Annuity Contract WebCE questions well answered graded A+
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How to Structure an Annuity Contract 
Which term refers to structured payouts that will liquidate an annuity's invested premiums and accumulated earnings over some period of time? - correct answer 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? - correct answer He was her spouse. 
 
What kind of annui...
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Annuity – WebCE Exam 2023 Questions with Verified Answers
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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...
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Texas General Lines - Life, accident and health insurance PRACTICE EXAM Questions and Answers with complete solutions
- Exam (elaborations) • 52 pages • 2022
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Texas General Lines - Life, accident and health insurance 
PRACTICE EXAM Questions and Answers with complete 
solutions 
LIFE SECTION 1 
1) Sandra Timms, age 27, is advised by her producer to purchase Life insurance to 
cover a 20-year-amortized $50,000 business-improvement loan. Which of the following 
plans would adequately protect Ms. Timms at the minimum premium outlay? 
A- $50,000 Whole Life policy 
B- $50,000 Level Term policy for 20 years 
C- $50,000 20 Pay Life policy 
D- $50,000 Decreas...
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XCEL |200 Exam Simulator Questions And Answers|100% Correct
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S recently received a $500,000 lump sum retirement buyout from her employer. She would like to buy an annuity that will immediately furnish her with a guaranteed income for life. What type of annuity is best suited for her situation? - ️️Single Premium. 
 
Immediate Annuities are purchased with a single lump sum payment and will start providing income payments within the first year, but usually starting 30 days from the purchase date. 
 
What type of group plan involves employees sharing th...
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Texas Life and Health Insurance Exam (question and answers) 2022/2023
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At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? - ANSWER Upon completion of the application 
 
Who elects the governing body of a mutual insurance company? - ANSWER policyholders 
 
An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the - ANSWER Fair Credit Reporting Act 
 
What type of reinsurance contract involves two companies automatically sharing their ri...
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Life Insurance Study Exam- Georgia |correctly answered questions
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An insurance producer selling a Variable Annuity whose cash value depends on the performance of an underlying investment account must be registered with: - ANSWER; The Financial Industry Regulatory Authority (FINRA, formerly the NASD) 
 
A life insurance policy whose cash value will fluctuate depending upon the performance of a separate account is: - ANSWER; Variable Life 
 
John Livingston owns a 30-Pay Life policy that he purchased at the age of 30. The cash value will equal the face amount of...
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WebCE 4-Hour Annuity Suitability and Best Interest Standards Questions with Answers
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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...
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Michigan Life and Health exam 2024
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defamation - correct answer Making a statement that is false or maliciously critical of the financial condition of an insurer is known as 
 
Business overhead expense policy - correct answer Which type of business insurance is meant to cover the costs of continuing to do business while the owner is disabled? 
 
the protection ends - correct answer Dorian exercised a nonforfeiture option by using his life policy's cash value to purchase an extended term insurance option. When the term insurance ...
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California Life, Accident, and Health Insurance Final Exam Questions and Answers Already Passed
- Exam (elaborations) • 26 pages • 2023
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California Life, Accident, and Health Insurance Final Exam Questions and Answers Already Passed What distinguishes a deferred annuity from an immediate annuity? The time at which benefit payments start 
Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? 60 payments 
What is a common reason people purchase an annuity? To protect against the risk of outlivin...
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