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Michigan Variable Insurance Exam |
Certified Exam Questions With Verified
Solutions
The annuitant selects the time period for the benefits, and the insurer determines
how much each payment will be, based on the value of the account and future
earnings projections. This option pays for a specified amount of time only,
whether or not the annuitant is living.-correct-answer-Fixed period installments
The annuitant selects how much each payment will be, and the insurer
determines how long the benefits will be paid by analyzing the value of the
account and future earnings.-correct-answer-Fixed amount installments
Annuity that has a varying rate of return based on the mutual funds in which one
has invested
+Kept in a separate account-correct-answer-Variable Annuity
An accounting measure used to determine an annuitant's proportionate interest
in the insurer's separate account during an annuity's accumulation (deposit)
stage.-correct-answer-Accumulation unit
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What determines that payment amount to an annuitant?-correct-answer-Annutiy
Units
When is the exchange of accumulation units to annuity units?-correct-answer-
Date of annuitization
How to convert accumulation units to annuity units.-correct-answer-Calculate the
first monthly payment, future payments or annuitant intrest in the separate
account.
What the insurance company assign an annuity to assume a reasonable rate of
return?-correct-answer-Assumed interest rate.
Assures the annuitant will receive at least the amount of money invested or a
certain amount of income.-correct-answer-Guaranteed living beenfit rider
the annuitant can withdraw a maximum percentage of his or her investment
annually until the initial investment has been recovered-correct-answer-
Guaranteed minimum withdrawal benefit
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Guaranteed minimum rate of interest to be credited to the purchase payments
Income payments that do not vary from one payment to the next
The insurance company guarantees the specified dollar amount for each payment
and the length of the period of payments as determined by the settlement option
chosen by the annuitant.-correct-answer-Fixed annuity
The annuitant knows the exact amount of each payment recieved from the
annuity during the annuity period.-correct-answer-Level benefit payment amount
What are fixed annuity premiums deposited in?-correct-answer-General account.
Who bears the investment risk in a fixed annuity?-correct-answer-insurer
invests aggressively, guaranteed minimum interest rate that is tied to the S & P
500-correct-answer-Equity indexed annuity
Equity indexed annuities are less risky than variable annuties or mutual funds but
are expected to earn a higher interest rate than a fixed annuity.-correct-answer-
Learn this
Michigan Variable Insurance Exam |
Certified Exam Questions With Verified
Solutions
The annuitant selects the time period for the benefits, and the insurer determines
how much each payment will be, based on the value of the account and future
earnings projections. This option pays for a specified amount of time only,
whether or not the annuitant is living.-correct-answer-Fixed period installments
The annuitant selects how much each payment will be, and the insurer
determines how long the benefits will be paid by analyzing the value of the
account and future earnings.-correct-answer-Fixed amount installments
Annuity that has a varying rate of return based on the mutual funds in which one
has invested
+Kept in a separate account-correct-answer-Variable Annuity
An accounting measure used to determine an annuitant's proportionate interest
in the insurer's separate account during an annuity's accumulation (deposit)
stage.-correct-answer-Accumulation unit
,2|Page
What determines that payment amount to an annuitant?-correct-answer-Annutiy
Units
When is the exchange of accumulation units to annuity units?-correct-answer-
Date of annuitization
How to convert accumulation units to annuity units.-correct-answer-Calculate the
first monthly payment, future payments or annuitant intrest in the separate
account.
What the insurance company assign an annuity to assume a reasonable rate of
return?-correct-answer-Assumed interest rate.
Assures the annuitant will receive at least the amount of money invested or a
certain amount of income.-correct-answer-Guaranteed living beenfit rider
the annuitant can withdraw a maximum percentage of his or her investment
annually until the initial investment has been recovered-correct-answer-
Guaranteed minimum withdrawal benefit
, 3|Page
Guaranteed minimum rate of interest to be credited to the purchase payments
Income payments that do not vary from one payment to the next
The insurance company guarantees the specified dollar amount for each payment
and the length of the period of payments as determined by the settlement option
chosen by the annuitant.-correct-answer-Fixed annuity
The annuitant knows the exact amount of each payment recieved from the
annuity during the annuity period.-correct-answer-Level benefit payment amount
What are fixed annuity premiums deposited in?-correct-answer-General account.
Who bears the investment risk in a fixed annuity?-correct-answer-insurer
invests aggressively, guaranteed minimum interest rate that is tied to the S & P
500-correct-answer-Equity indexed annuity
Equity indexed annuities are less risky than variable annuties or mutual funds but
are expected to earn a higher interest rate than a fixed annuity.-correct-answer-
Learn this
