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Free Annuities Practice Questions

Rhode Island Life, Accident & Health exam — 37 practice questions.

Subtopics: Immediate annuity, Deferred annuity, Flexible premium, Annuitant, Joint and survivor, Refund annuity, Market value adjustment, 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

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Sample questions & answers

1. An immediate annuity differs from a deferred annuity primarily because an immediate annuity:

Begins income payments within about one payment period of purchase

An immediate annuity begins paying income shortly after purchase, while a deferred annuity delays payments to a later date.

2. A deferred annuity is one in which income payments:

Begin at a future date after an accumulation period

A deferred annuity delays the start of income payments until a future date following an accumulation period.

3. A flexible premium deferred annuity allows the owner to:

Make varying contributions over time during accumulation

A flexible premium annuity lets the owner contribute varying amounts over time during the accumulation period.

4. The annuitant in an annuity contract is the person:

Whose life expectancy is used to determine the income payments

The annuitant is the individual whose life is used to measure the annuity's 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.