Name: 

When establishing an immediate annuity, the contract must also be a(n):

In a variable annuity:
I.    the investor assumes investment risk
II.   the investor assumes purchasing power risk
III.  the insurance company assumes investment risk
IV.  the insurance company assumes purchasing power risk
-

A person deposits $10,000 in a variable annuity account. The cost of one accumulation unit at that time is $200. When he or she begins to receive payments the value of an accumulation unit is $225. What is the total value of the variable annuity?

When determining the first monthly payment from a deferred variable annuity, all of the following factors are considered EXCEPT:

All of the following payout options protect a beneficiary EXCEPT:

A contract holder of a deferred annuity must choose a payout option:

Annuity payments to annuitants under a variable annuity are based on:

Dollar cost averaging refers to:

The period of time from a variable annuity contract's issue date until the start of payments is known as the:

Which of the following is NOT required to calculate the size of annuity payments?

Which of the following is NOT a required party to a annuity contract?

The “current” rate of interest paid on a traditional fixed annuity is:

When the current rate of interest is set using a tiered rate method, the contractholder will earn different rates of interest depending on:

Client A invests $50,000 in a fixed annuity contract and earns a current rate of 4% this year, while Client B invests $100,000 in the same contract and earns 4.25%.  Which interest crediting method does this contract use?

A client uses a dollar cost averaging plan to invest over a period of time.  The average cost of the shares purchased will be:

The net asset value of a mutual fund differs from the value of accumulation units of a comparable separate account within a variable annuity because:

The assumed interest rate (AIR) in a variable annuity:

An equity indexed annuity that is simply based on the value of the index at maturity relative to the value of the index at inception uses the

The annual reset indexing method is sometimes called the:

An investor is comparing the purchase of an equity indexed annuity (EIA) based on the S&P 500 with purchase Spiders®,  an exchange traded fund (ETF) that holds a stock portfolio that mirrors the S&P 500 index.  Which of the following is true?

Which of the following market measurements is most commonly used in equity indexed annutiies?

The S&P 500 increased by 12% this year.  Which of the following annual reset contracts will credit the investor with the greatest increase in a EIA based on that index?

Which of the following are offered to variable annuity contractholders at no additional cost?

Under a guaranteed minimum income benefit:

A contract holder purchases $150,000 variable annuity with a guaranteed minimum accumulation benefit rider that has a seven-year vesting period with a step-up option.  In year 5, the value of the contract has grown to $200,000.  Under the GWAB rider, the contractholder is guaranteed a minimum contract value of: 

Your client purchases a $200,000 variable annuity with a guaranteed minimum withdrawal benefit rider.  The GMWB allows for 5% withdrawals. In year 5, when value of the annuity has dropped to $150,000, the client chooses to exercise the withdrawal option.  The contractholder will be able withdraw

A variable annuities “total insurance expense” is comprised of all of the following EXCEPT:

Which of the following are properly analyzed as a cost of investing in an equity indexed annuity?

Which of the following is costs in a deferred fixed annuity is the least transparent (not clearly disclosed) to contractholders?

A market value adjustment affects fixed deferred annuity holders who: