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  2. Florida
  3. Life including Variable Annuity (2-14)
  4. Annuities

Free Annuities Practice Questions

Florida Life including Variable Annuity (2-14) exam (series 2-14) — 28 practice questions.

Subtopics: Annuity free look, Senior annuity refund, Annuity suitability, Secondary notice, Churning annuities, Annuity sales to seniors, Purpose, Accumulation period, Annuitant, Immediate annuity, Deferred annuity, Fixed annuity, Variable annuity, Variable annuity licensing, Equity indexed annuity, Pure life option, Life with period certain, Refund annuity, Joint and survivor, Annuity certain, Tax-deferred growth, Exclusion ratio, Surrender charge, Retirement income use, Structured settlement, Owner rights, Early withdrawal penalty, Annuity vs life insurance

Sample questions & answers

1. A Florida annuity contract must provide an unconditional refund period of at least:

14 days

Florida requires that fixed and variable annuity contracts provide an unconditional refund for at least 14 days.

2. When the prospective owner of an annuity is age 65 or older, Florida extends the unconditional refund period to at least:

21 days

For a prospective annuity owner age 65 or older, Florida requires an unconditional refund period of at least 21 days.

3. Before recommending an annuity in Florida, a producer must have:

A reasonable basis to believe the recommendation is suitable and in the consumer's best interest

Florida's annuity suitability rules require the producer to have a reasonable basis to believe the recommendation suits the consumer's needs and is in the consumer's best interest.

4. Florida requires a life insurer to send a secondary (lapse) notice for certain policies covering insureds who are:

Age 64 or older or who have designated a secondary addressee

Florida requires a secondary notice before lapse for policies insuring persons age 64 or older or where a secondary addressee has been designated.

All Life including Variable Annuity (2-14) topics

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 Pennsylvania Insurance Department and the exam administrator before relying on it.