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  4. Annuities

Free Annuities Practice Questions

New Hampshire Life, Accident & Health exam — 37 practice questions.

Subtopics: Immediate annuity, Single premium, Joint and survivor, Annuitant, Surrender charge, Indexed annuity, 1035 exchange, Annuity death benefit, 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 annuity that begins income payments within about one payment interval of purchase is a(n):

Immediate annuity

An immediate annuity begins income payments within one payment period of purchase, unlike a deferred annuity.

2. A single premium deferred annuity is funded by:

One lump-sum payment, with income starting later

A single premium deferred annuity is funded with one lump-sum payment, and income payments begin at a later date.

3. A joint and survivor annuity payout option is designed to:

Continue income to a surviving annuitant after the first annuitant dies

A joint and survivor option continues income to the surviving annuitant after the first annuitant's death.

4. 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 is used to calculate the annuity 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.