Annuities Quizzes, Questions & Answers

Top Trending Annuities Quizzes

A trivia quiz on annuities! There are different ways that people choose to invest their income and annuities are perfect answer to people who do not want to risk lacking income as they ensure after one has made their premiums...

Questions: 15 | Attempts: 3385 | Last updated: Mar 21, 2023

Sample Question 1
What is the advantage of having a qualified annuity?

There is no advantage

Higher dividends

The employer receives a tax deduction for the contributions

Receiving a lump-sum settlement tax free

Sample Question 2
Under a Straight Life Annuity, if the annuitant dies before the principal amount is paid out, the beneficiary will receive:

Guaranteed minimum benefit

Nothing; the payments will cease

The amount paid into the annuity

The remainder of the principal

Sample Question 3
A prospective Deferred Annuity owner is concerned about what would happen if the surrendered the annuity before the annuitization period. The agent most likely explained which of the following?

The owner will receive some of the money back, which will depend on the surrender value established by the insurer at the time that the contract is terminated

It is not possible to surrender an annuity before the annuitization period.

Non-Forfeiture Option guarantees that the owner will receive a surrender value of the contract

The insurance company will apply the money to another annuity or a Life Insurance policy, but the money cannot be returned

Recent Annuities Quizzes

Disbursement Rules For Annuities! Trivia

Disbursement Rules for Annuities! Trivia

Quiz: disbursement rules for annuities! Disbursement rules for annuities are put in place to ensure that someone is not shortchanged when it comes to getting your money. It is therefore important that one check what each type of...

Questions: 16 | Attempts: 680 | Last updated: Nov 16, 2023

Sample Question
____________ is the IRS form with which individual reports his or her distributions from annuities, profit-sharing plans, retirement plans, IRAs, insurance contracts and/or pensions.

1099 R

5498

1099 INT

W-4P

Annuity Basics 103 - Active Annuities

Please complete the following check for understanding. Good luck!

Questions: 15 | Attempts: 66 | Last updated: Jun 19, 2023

Sample Question
What form is used to remove excess contributions from an IRA?

1099

EFL-927

EFL-520

EFL-809