Annuity Test Questions and All
Correct Answers 2025-2026 Updated.
Accumulations units in a variable annuity: - Answer will rarely have the same value from
month to month
Variable products general accounts are composed of _____________ constructed to match the
liabilities and guarantees of the contracts they back. - Answer conservative investments
Fraternal insurance organizations operate as "associations" and function as profit making
businesses. - Answer False
Under the Holocaust Victims Insurance Act, claimants have until ________ after the effective
date of the law (July 1, 1998) to submit their claims. - Answer 10 years
In _____________, employee compensation is deferred to some future age or date. - Answer
a Section 457 plan
"Economically dead" means: - Answer physically disabled, but not physically deceased.
Two elderly sisters wish to invest their inheritance in a way that will provide them both with
lifetime incomes. Which one of the following annuities would provide them with the specific
benefit they desire? - Answer joint and full survivor
The type of annuity in which the values grow according to performance of the investment
medium and in which the benefit may fluctuate according to market performance is called a: -
Answer variable annuity
An annuitant received monthly payments from a variable annuity under a Joint and Two-Thirds
Survivor option. If the primary annuitant dies, what will the surviving annuitant receive? -
Answer Two-thirds of the annuity units accumulated by the annuitant
Contributions to a traditional IRA in 2012 are limited to: - Answer $5,000
Midge begins receiving monthly annuity checks after her husband's death. A year later, Midge
passes away and their daughter receives the same amount in monthly checks until the proceeds
are exhausted. Which of the following options provide for this? - Answer Installment refund
option
Correct Answers 2025-2026 Updated.
Accumulations units in a variable annuity: - Answer will rarely have the same value from
month to month
Variable products general accounts are composed of _____________ constructed to match the
liabilities and guarantees of the contracts they back. - Answer conservative investments
Fraternal insurance organizations operate as "associations" and function as profit making
businesses. - Answer False
Under the Holocaust Victims Insurance Act, claimants have until ________ after the effective
date of the law (July 1, 1998) to submit their claims. - Answer 10 years
In _____________, employee compensation is deferred to some future age or date. - Answer
a Section 457 plan
"Economically dead" means: - Answer physically disabled, but not physically deceased.
Two elderly sisters wish to invest their inheritance in a way that will provide them both with
lifetime incomes. Which one of the following annuities would provide them with the specific
benefit they desire? - Answer joint and full survivor
The type of annuity in which the values grow according to performance of the investment
medium and in which the benefit may fluctuate according to market performance is called a: -
Answer variable annuity
An annuitant received monthly payments from a variable annuity under a Joint and Two-Thirds
Survivor option. If the primary annuitant dies, what will the surviving annuitant receive? -
Answer Two-thirds of the annuity units accumulated by the annuitant
Contributions to a traditional IRA in 2012 are limited to: - Answer $5,000
Midge begins receiving monthly annuity checks after her husband's death. A year later, Midge
passes away and their daughter receives the same amount in monthly checks until the proceeds
are exhausted. Which of the following options provide for this? - Answer Installment refund
option
