Free Annuities Practice Questions
Ohio Life exam (series 11-44) — 90 practice questions.
Subtopics: Accumulation, Immediate annuity, Variable annuity, Payout options, Annuity free look, Annuity best interest, Annuity buyer's guide timing, Replacement free look, Annuity suitability scope, Purpose, Accumulation period, Annuitant, Deferred annuity, Fixed 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, Single vs flexible premium annuity, Annuity surrender charge period, Bailout provision, Market value adjustment, Annuitization vs surrender, Annuity death benefit, Free withdrawal provision, Cash refund vs installment refund, Joint life annuity, 1035 exchange, Qualified annuity funding, Accumulation vs annuity units, Assumed interest rate, Guaranteed minimum income benefit, Guaranteed minimum withdrawal benefit, Qualified longevity annuity contract, Split-annuity concept, Annuity suitability standard, Nonqualified withdrawal taxation, Owner's death before annuitization, Two-tier annuity, Annuity guaranteed minimum value, Annuity exclusion ratio, Annuity parties, Annuitant requirement, Annuity insurer guarantees, Annuity mortality, SPIA, Deferred annuity funding, Nursing home waiver, Bonus annuity, Indexed annuity cap, Indexed annuity spread, Indexed annuity participation, Annual reset, Point to point, High water mark, Indexed annuity regulation, Variable annuity units, AIR performance, GMDB, Variable annuity seller, Life with refund vs pure life, Joint and survivor variations, Smallest payout option, Annuity certain use, Education funding, Tax-sheltered annuity users, Group annuity, Annuity disclosure, Annuity disclosure free look, Suitability review, Senior annuity concerns, Annuity death before annuitization, Spousal continuation, Non-natural owner, Annuity owner control
Read the Annuities study guide
Sample questions & answers
1. The period during which an annuity owner makes payments into the contract is the:
Accumulation period
Contributions occur during accumulation; payout occurs during annuitization.
2. An annuity that begins income payments within about one payment interval of purchase is a(n):
Immediate annuity
Immediate annuities begin payouts shortly after a single premium.
3. Which annuity places investment risk on the contract owner and may have values tied to subaccounts?
Variable annuity
Variable annuity values fluctuate with subaccount performance; the owner bears investment risk.
4. Which annuity payout option provides the largest periodic income but stops at the annuitant's death with no refund?
Straight life (life only)
Straight life pays the most but ends at death with nothing to beneficiaries.
Practice: Annuities
Answer choices are shuffled every time, and every question comes with an explanation.
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.
