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Free Annuities Practice Questions

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

Subtopics: Deferred annuity, Annuitant, Joint and survivor, Surrender charge, Indexed annuity, Single premium, Section 1035 exchange, Death during accumulation, 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. A deferred annuity differs from an immediate annuity in that income payments:

Begin at a future date after an accumulation period

A deferred annuity accumulates value and begins income at a future date, unlike an immediate annuity.

2. The person whose life expectancy determines the annuity income payments is the:

Annuitant

The annuitant is the person whose life and life expectancy determine the income payments.

3. A joint and survivor annuity option continues income:

To a surviving annuitant after the first annuitant dies

A joint and survivor option keeps paying a surviving annuitant after the first annuitant dies.

4. A surrender charge on a deferred annuity applies when the owner:

Withdraws more than the allowed amount during the surrender period

A surrender charge applies when the owner withdraws more than the free amount during the surrender charge period.

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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.