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  4. Annuities

Free Annuities Practice Questions

Ohio Life, Accident & Health exam — 34 practice questions.

Subtopics: Annuitant, Surrender charge, Indexed annuity, Death benefit, Exclusion ratio, 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, Early withdrawal penalty, Annuitization, Death before annuitization, Qualified vs nonqualified, Structured settlement, Annuity exclusion ratio

Read the Annuities study guide

Sample questions & answers

1. In an annuity, the person whose life expectancy determines the income payments is the:

Annuitant

The annuitant's life expectancy determines income payments.

2. A charge applied when an owner withdraws funds from a deferred annuity early is a:

Surrender charge

Early withdrawals from a deferred annuity may incur a surrender charge.

3. An annuity whose interest credit is linked to a market index but with a guaranteed floor is a(n):

Fixed indexed annuity

A fixed indexed annuity links interest to an index with a guaranteed minimum.

4. If an annuity owner dies during the accumulation phase, the contract generally pays:

A death benefit to the named beneficiary

A death benefit is generally paid to the beneficiary if the owner dies during accumulation.

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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.