Free Annuities Practice Questions
Delaware Life, Accident & Health exam — 72 practice questions.
Subtopics: Immediate versus deferred, Single premium, Annuitization phase, Joint and survivor, Indexed annuity, Surrender charge, Annuitant, Refund annuity, Annuity reinstatement, Misstatement of age or sex, Annuity grace period, Annuity incontestability, Annuity best interest, Annuity training, Consumer profile information, Prior annuity replacements, Annuity records, Best interest exemptions, Annuity disclosure, 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, Annuitization, Death before annuitization, Qualified vs nonqualified, Structured settlement, Annuity exclusion ratio, Indexed annuities, Market value adjustment, Variable annuities, Payout options, Bonus annuities, Annuity death benefit, Annuity taxation, 1035 exchanges, Surrender charges, Parties, Suitability
Read the Annuities study guide
Sample questions & answers
1. An immediate annuity differs from a deferred annuity because income payments:
Begin about one payment period after purchase
An immediate annuity begins paying income within roughly one payment interval of purchase, while a deferred annuity delays payout.
2. A single premium annuity is funded by:
One lump-sum payment
A single premium annuity is purchased with one lump-sum deposit rather than a series of payments.
3. The annuitization (payout) phase of an annuity is the period during which:
The value is converted into income payments
During the annuitization phase the accumulated value is liquidated into a series of income payments to the annuitant.
4. A joint and survivor annuity continues income:
To a surviving annuitant after the first annuitant dies
A joint and survivor annuity keeps paying income to the surviving annuitant after the first annuitant's death.
All Life, Accident & Health topics
Practice: Annuities
Answer choices are shuffled every time, and every question comes with an explanation.
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.
