4-hour annuity training with answers 2024

4-hour annuity trainingThe annuitization of a nonqualified annuity's funds is subject to taxation in accordance with: - correct answer an exclusion ratio Seventy-year-old Patrice elects to annuitize her fixed deferred annuity under a straight life option. She had originally invested $25,000 in the contract; the contract was worth $80,000 at annuitization. According to IRS life expectancy tables, Patrice will live for 16 years. Her annual annuity income is $6,800. How much of that is taxable? - correct answer $5,236 Which of the following correctly indicates the current tax treatment of annuity withdrawals? - correct answer LIFO The NAIC Annuity Suitability model regulation applies only to fixed and indexed annuities; FINRA Rule 2330 applies to variable annuities. - correct answer False - The NAIC Annuity Suitability model applies to all annuities: fixed, indexed, and variable. It does provide a bridge to FINRA regulation, stipulating that a producer will be deemed compliant with the NAIC guidelines if he or she follows FINRA Rule 2330 when recommending and placing variable annuities.