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Free Annuities Practice Questions

Alaska Life, Accident & Health exam — 37 practice questions.

Subtopics: Immediate annuity, Flexible premium, Annuitant, Annuitization phase, Indexed annuity, Joint and survivor, Refund annuity, Early withdrawal, Principles, Immediate vs deferred, Products, Payment options, Uses, Taxation, Parties to an annuity, Flexible premium annuity, Cash refund option, Installment refund option, Period certain option, Annuity units, Separate account, Tax-deferred accumulation, Exclusion ratio, Early withdrawal penalty, Annuitization, Death before annuitization, Qualified vs nonqualified, Structured settlement, Annuity exclusion ratio

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Sample questions & answers

1. An immediate annuity differs from a deferred annuity because income payments begin:

Within about one payment period after purchase

An immediate annuity begins paying income within roughly one payment period after purchase.

2. A flexible premium deferred annuity allows the owner to:

Vary the amount and timing of contributions during accumulation

A flexible premium annuity lets the owner vary contribution amounts and timing during accumulation.

3. In an annuity contract the person whose life expectancy is used to determine income payments is the:

Annuitant

The annuitant is the person whose life expectancy determines the income payments.

4. The annuitization or payout phase of an annuity is when:

Accumulated value is converted into a stream of income payments

During annuitization the accumulated value is converted into a stream of income payments.

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Practice: Annuities

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.