4-Hour Annuity Suitability And Best Interest Standards Exam Webce Questions With Correct Answers.

4-Hour Annuity Suitability And Best Interest Standards Exam Webce Questions With Correct Answers . For xwhom xis xjoint xownership xof xan xannuity xoften xreserved? x- x x x xcorrect xanswer.spouses At xwhat xpoint xdoes xthe xbeneficiary xto xan xannuity xacquire xrights xin xthe xcontract? x- x x x xcorrect xanswer.(Wrong) xupon xcontract xissue xand xthroughout xthe xlife xof xthe xcontract, xuntil xthe xdeath xof xthe xcontract xowner xor xannuitant Generally xspeaking, xhow xlong xis xthe xaccumulation xperiod xfor ximmediate xannuities? x- x x x xcorrect xanswer.one xmonth xto xone xyear For xwhich xof xthe xfollowing xneeds xare xtraditional xdeferred xannuities xbest xsuited? x- x x x xcorrect xanswer.retirement xplanning For xwhat xreason xwould xan xindividual xchoose xa xvariable xannuity xover xa xfixed xannuity? x- x x x xcorrect xanswer.for xthe xpotential xto xearn xgreater xcontract xgrowth At xthe xtime xhe xpurchased xhis xvariable xannuity, xAhmed xdirected x$5,000 xof xhis xpremium xinto xSubaccount xA xwhen xthe xunit xvalue xwas x$10. xA xyear xlater, xthe xunit xvalue xhad xincreased xto x$15. xAssuming xhe xmade xno xadditional xpremium xdeposits, xwhat xis xthe xvalue xof xAhmed's xinvestment xin xSubaccount xA xnow? x- x x x xcorrect xanswer.$7,500 For xmost xindexed xannuities, xwhat xis xthe xspecified xfloor? x- x x x xcorrect xanswer.0 xpercent Which xfeature xof xindexed xannuities xprevents xany xnegative xindex xreturns xfrom xaffecting xthe xcontract's xpreviously xcredited xand xaccumulated xvalues? x- x x x xcorrect xanswer.the xfloor At xthe xage xof x42, xSteve xpurchased xa xfixed xdeferred xannuity xfrom xMega xMutual xLife xwith xa xsingle xpremium xdeposit xof x$10,000. xThe xdeclared xinterest xrate xon xSteve's xcontract xwhen xit xwas xissued xwas x5