PHP EXAM 2024 WITH 100% CORRECT ANSWERS

Which of the following is Not a feature of equity-indexed annuities? - correct answer Offers a maximum interest rate that increases annually What is a common reason people purchase an annuity? - correct answer to protect against the risk of outliving their financial resources An annuitant would like to determine the amount of annuity distribution that is exempt from taxation. What is used to calculate this? - correct answer Exclusion Ratio Victoria owns a life annuity and elects to receive annuity payments monthly for the remainder of her with "ten years certain". Her annuity will make her payments - correct answer for a minimum of 120 months and a maximum of the remainder of her life What distinguishes a differed annuity from an immediate annuity? - correct answer The time at which the benefit starts Number of accumulation units she owns x unit value of the separate account. What kind of annuity best matches this description? - correct answer Variable Annuity What kind of annuity pays income to two annuities until their deaths? - correct answer Joint and survivor annuity Cindy buys a 10- year certain annuity with an installment refund. After receiving monthly payments for 5 years. Cindy dies. How many remaining payments will the insurer make to her beneficiary. - correct answer 60 payments AAA