NW ANNUITIES EXAM
1. The ------ is offered on Northwestern Mutual immediate annuities and
income plans of a deferred annuity. The -------- is also, but neither is
offered on the Single Premium Deferred Income Annuity.: (B). Increasing
Payment Option/Accelerated Income Withdrawal Feature
C. Single premium/Flexible premium
A. Accelerated Income Withdrawal Feature/Accelerated Death Feature.
A. Increasing Payment Option/Accelerated Death Benefit Feature.
2. Prior to recommending the purchase or exchange of a deferred
annuity, a financial representative should make reasonable effort to
obtain, at a minimum, information concerning the customer's:
-age
-investment experience, investment objectives, and risk tolerance
-intended use of the deferred annuity, including the investment time
horizon and liquidity needs.
-financial situation, including annual income, tax status, liquid net worth,
and existing assets (including investments and life insurance holdings).: -
(True)
-False
3. Northwestern Mutual's Select Fixed Annuities offers three contract
choic- es that offer unique features. Which one of the following is NOT one
of the three contract choices?: A. Platinum
(B.) Bronze
C. Silver
,D. Gold
4. Cindy is preparing for a closing meeting with clients who are considering
a deferred fixed annuity. This solution could help them meet their financial
goal of supplementing their future retirement income need with an income
plan from the deferred annuity. The clients are concerned about liquidity
when they elect an income plan from the deferred fixed annuity. What
features of the deferred fixed annuity should Cindy discuss that may
address the clients concerns?: A. Accelerated Death Benefit Feature.
B. Increasing Payment Option.
C. Accelerated Income Withdrawal Feature.
D.Increasing Rate Feature
E. A, B and
C (F). B and
C
5. Sam is meeting with a husband and wife who like the idea of having
fixed and guaranteed income backed by Northwestern Mutual. What they
are not sure about yet, is when they want to retire. They love what they
doing
, professionally so it could be a year from now or ten years from now. At the
next meeting, they would like to review some of the annuity income
options they have with Northwestern Mutual. Although there are several
more details to discuss, what are some product highlights you want to
discuss?
I. The income may begin from a Single Premium Deferred Income
Annuity within one week after purchase.
II. The Single Premium Immediate Annuity offers the Accelerated
Income Withdrawal Feature.
III. Income payments from the Single Premium Deferred Income Annuity
may be delayed up to ten years after contracts issue.
IV. A fixed income plan may be elected from a Northwestern Mutual
deferred fixed or variable annuity: A. I only
B. IV only
(C). II and
III
D. III and IV
6. Evan phoned his rep. when he received his most recent statement on
his deferred annuity. Evan is 65 and purchased the fixed annuity seven
years ago to be a conservative part of his portfolio. Evan has read and
heard a
lot about how the market is beginning to take off and that variable
1. The ------ is offered on Northwestern Mutual immediate annuities and
income plans of a deferred annuity. The -------- is also, but neither is
offered on the Single Premium Deferred Income Annuity.: (B). Increasing
Payment Option/Accelerated Income Withdrawal Feature
C. Single premium/Flexible premium
A. Accelerated Income Withdrawal Feature/Accelerated Death Feature.
A. Increasing Payment Option/Accelerated Death Benefit Feature.
2. Prior to recommending the purchase or exchange of a deferred
annuity, a financial representative should make reasonable effort to
obtain, at a minimum, information concerning the customer's:
-age
-investment experience, investment objectives, and risk tolerance
-intended use of the deferred annuity, including the investment time
horizon and liquidity needs.
-financial situation, including annual income, tax status, liquid net worth,
and existing assets (including investments and life insurance holdings).: -
(True)
-False
3. Northwestern Mutual's Select Fixed Annuities offers three contract
choic- es that offer unique features. Which one of the following is NOT one
of the three contract choices?: A. Platinum
(B.) Bronze
C. Silver
,D. Gold
4. Cindy is preparing for a closing meeting with clients who are considering
a deferred fixed annuity. This solution could help them meet their financial
goal of supplementing their future retirement income need with an income
plan from the deferred annuity. The clients are concerned about liquidity
when they elect an income plan from the deferred fixed annuity. What
features of the deferred fixed annuity should Cindy discuss that may
address the clients concerns?: A. Accelerated Death Benefit Feature.
B. Increasing Payment Option.
C. Accelerated Income Withdrawal Feature.
D.Increasing Rate Feature
E. A, B and
C (F). B and
C
5. Sam is meeting with a husband and wife who like the idea of having
fixed and guaranteed income backed by Northwestern Mutual. What they
are not sure about yet, is when they want to retire. They love what they
doing
, professionally so it could be a year from now or ten years from now. At the
next meeting, they would like to review some of the annuity income
options they have with Northwestern Mutual. Although there are several
more details to discuss, what are some product highlights you want to
discuss?
I. The income may begin from a Single Premium Deferred Income
Annuity within one week after purchase.
II. The Single Premium Immediate Annuity offers the Accelerated
Income Withdrawal Feature.
III. Income payments from the Single Premium Deferred Income Annuity
may be delayed up to ten years after contracts issue.
IV. A fixed income plan may be elected from a Northwestern Mutual
deferred fixed or variable annuity: A. I only
B. IV only
(C). II and
III
D. III and IV
6. Evan phoned his rep. when he received his most recent statement on
his deferred annuity. Evan is 65 and purchased the fixed annuity seven
years ago to be a conservative part of his portfolio. Evan has read and
heard a
lot about how the market is beginning to take off and that variable
