©FYNDLAY 2025 ALL RIGHTS RESERVED 11:49 AM A+
Florida Life and Variable Annuity Exam
Questions And Answers |Latest 2025 |
Guaranteed Pass
Variable annuity - Answer✔there is no guarantee of the dollar amount of the payments, they
fluctuate according to the value of an account vest primarly in common stocks
join and survivor annuity - Answer✔covers two or more lives and contiunes in force so long as
any one of them survives
period certain annuity - Answer✔annuity imcome option that guarantees a definite minimum
peroid of payments
life annuity - Answer✔payable during the continued life of the annuitant. No provision is made
for the guaranteed return of the unused portion of the premium
installment refund annuity - Answer✔annuity income option that provies for the funds remaing
at the annuiants death to be paid to the beneficiary in the form of continued annity payments
immediate annuity - Answer✔only be purchased with single payment. provides payment of
annuity benefit at one payment interval from date of purchase
equity indexed annuities (EIA) - Answer✔fixed annuity that offers the potential for higher
credited rates of return that their traditional counterparts but also guarantee the owners
principal
1|Page
, ©FYNDLAY 2025 ALL RIGHTS RESERVED 11:49 AM A+
deferred annuity - Answer✔provides postponment of the commencemnt of an annity until
after a specified peroid or until the annuiant attains a certain age.
annuiant - Answer✔one to who an annuity is payable, or a person upon the contiuance of
whoes life further payment depends
accumulation period of an annuity - Answer✔the time during which funds are being paid into
the annuity
payout (annuity period) - Answer✔the point at which the annuity ceases to be an accumulation
vehicle and beings to generate benefit payments on a regular basis.
funding method of annuity - Answer✔single lump-sum payment or periodic payment over time
principal sum - Answer✔beginning sum of money
single-premium deferred annuities - Answer✔annuities funded with single premiums
assigment provision - Answer✔sets forth the procedure necessary for ownership transfer
*transfer is known as assignment
*new owner is the assignee
*insureable interest does not have to exist between the insured and the asignee
*asignee granted all rights of policy ownership, including right to name beneficiary.
preferred risk - Answer✔exceptionally good risk
*lower preimums
*personal characteristics-non smoker, weight within ideal range, favorable cholestrol levels
2|Page
Florida Life and Variable Annuity Exam
Questions And Answers |Latest 2025 |
Guaranteed Pass
Variable annuity - Answer✔there is no guarantee of the dollar amount of the payments, they
fluctuate according to the value of an account vest primarly in common stocks
join and survivor annuity - Answer✔covers two or more lives and contiunes in force so long as
any one of them survives
period certain annuity - Answer✔annuity imcome option that guarantees a definite minimum
peroid of payments
life annuity - Answer✔payable during the continued life of the annuitant. No provision is made
for the guaranteed return of the unused portion of the premium
installment refund annuity - Answer✔annuity income option that provies for the funds remaing
at the annuiants death to be paid to the beneficiary in the form of continued annity payments
immediate annuity - Answer✔only be purchased with single payment. provides payment of
annuity benefit at one payment interval from date of purchase
equity indexed annuities (EIA) - Answer✔fixed annuity that offers the potential for higher
credited rates of return that their traditional counterparts but also guarantee the owners
principal
1|Page
, ©FYNDLAY 2025 ALL RIGHTS RESERVED 11:49 AM A+
deferred annuity - Answer✔provides postponment of the commencemnt of an annity until
after a specified peroid or until the annuiant attains a certain age.
annuiant - Answer✔one to who an annuity is payable, or a person upon the contiuance of
whoes life further payment depends
accumulation period of an annuity - Answer✔the time during which funds are being paid into
the annuity
payout (annuity period) - Answer✔the point at which the annuity ceases to be an accumulation
vehicle and beings to generate benefit payments on a regular basis.
funding method of annuity - Answer✔single lump-sum payment or periodic payment over time
principal sum - Answer✔beginning sum of money
single-premium deferred annuities - Answer✔annuities funded with single premiums
assigment provision - Answer✔sets forth the procedure necessary for ownership transfer
*transfer is known as assignment
*new owner is the assignee
*insureable interest does not have to exist between the insured and the asignee
*asignee granted all rights of policy ownership, including right to name beneficiary.
preferred risk - Answer✔exceptionally good risk
*lower preimums
*personal characteristics-non smoker, weight within ideal range, favorable cholestrol levels
2|Page
