1. Exam Prep
  2. Tennessee
  3. Life, Accident & Health
  4. Annuities

Free Annuities Practice Questions

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

Subtopics: Annuitant, Annuitization, Period certain, Joint and survivor, Indexed annuity, Surrender charge, Tax deferral, 1035 exchange, 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, Death before annuitization, Qualified vs nonqualified, Structured settlement, Annuity exclusion ratio

Read the Annuities study guide

Sample questions & answers

1. The person whose life expectancy is used to determine annuity payments, and during whose life payments may be made, is the:

Annuitant

The annuitant is the measuring life used to determine annuity payments.

2. The phase in which an annuity is converted into a stream of income payments is the:

Annuitization (payout) phase

During the annuitization or payout phase, the accumulated value is converted into periodic income payments.

3. An annuity payout that guarantees payments for a set number of years and continues to a beneficiary if the annuitant dies early is:

Period certain (or life with period certain)

A period-certain option guarantees payments for a set term, continuing to a beneficiary if the annuitant dies within that term.

4. An annuity payout that continues income to a surviving spouse after the first annuitant dies is:

Joint and survivor

A joint and survivor annuity continues income to the surviving annuitant after the first dies.

All Life, Accident & Health topics

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.