MI Variable Life and Annuities Producer Exam
with Correct Answers
Save
Terms in this set (150)
A variable annuity has a Contingent upon the profitability of the investment
payout that is portfolio
Which of the following c) Investment management fee
would be considered the
largest cost incurred on
the value of a variable
annuity?
a) the cost of insurance
b) Mortality fee
c) Investment
management fee
d) Administrative
expenses
The two main categories Fixed and variable
of policy loan interest
rates are
,Which of the following c) Flexible premium
types of policies would
allow a policyowner to
choose a premium amount
payment schedule?
a) Fixed premium
b) Indeterminate premium
c) Flexible premium
d) Initial premium
SIMPLE Plans require all of b) At least 1,000 employees.
the following EXCEPT
a) Employees must
receive a minimum of
$5,000 in annual
compensation.
b) At least 1,000
employees.
c) No other qualified plan
can be used.
d) No more than 100
employees/
Employer contributions Are subject to vesting requirements
made to a qualified plan
a) Cash value
Which of the following is b) Interest rate index
used to determine interest c) consumer price index
rates on variable d) annual average rate
products?
b) Interest rate index
For a retirement plan to be Employees
qualified, it must be
designed for the benefit
of?
, Which of the following c) Securities Act of 1933
requires mandates a
prospectus?
a) Secured Investors
Protection Act of 1970
b) Fair Credit Act of 1933
c) Securities Act of 1933
d) Securities Exchange Act
of 1934
Traditional IRA b) Owner's income
contributions are tax
deductible based on
which of the following?
a) IRA limit
b) Owner's income
c) How long the plan has
been in force
d) Owner's age
A variable life insurance d) Guaranteed cash value
policy states all of the
following current and
maximum policy charges
EXCEPT
a) Administrative expenses
b) Mortality costs
c) Investment
management fee
d) Guaranteed cash value
with Correct Answers
Save
Terms in this set (150)
A variable annuity has a Contingent upon the profitability of the investment
payout that is portfolio
Which of the following c) Investment management fee
would be considered the
largest cost incurred on
the value of a variable
annuity?
a) the cost of insurance
b) Mortality fee
c) Investment
management fee
d) Administrative
expenses
The two main categories Fixed and variable
of policy loan interest
rates are
,Which of the following c) Flexible premium
types of policies would
allow a policyowner to
choose a premium amount
payment schedule?
a) Fixed premium
b) Indeterminate premium
c) Flexible premium
d) Initial premium
SIMPLE Plans require all of b) At least 1,000 employees.
the following EXCEPT
a) Employees must
receive a minimum of
$5,000 in annual
compensation.
b) At least 1,000
employees.
c) No other qualified plan
can be used.
d) No more than 100
employees/
Employer contributions Are subject to vesting requirements
made to a qualified plan
a) Cash value
Which of the following is b) Interest rate index
used to determine interest c) consumer price index
rates on variable d) annual average rate
products?
b) Interest rate index
For a retirement plan to be Employees
qualified, it must be
designed for the benefit
of?
, Which of the following c) Securities Act of 1933
requires mandates a
prospectus?
a) Secured Investors
Protection Act of 1970
b) Fair Credit Act of 1933
c) Securities Act of 1933
d) Securities Exchange Act
of 1934
Traditional IRA b) Owner's income
contributions are tax
deductible based on
which of the following?
a) IRA limit
b) Owner's income
c) How long the plan has
been in force
d) Owner's age
A variable life insurance d) Guaranteed cash value
policy states all of the
following current and
maximum policy charges
EXCEPT
a) Administrative expenses
b) Mortality costs
c) Investment
management fee
d) Guaranteed cash value
