Segregated Funds & Annuities - Chapter 3 Questions and Answers 100% Correct!

An accumulation annuity. (Reference: Chapter 3) - ANSWER-Which type of annuity is most appropriate for a young investor with ample income and is primarily interested in investment growth? Buy a series of annuities over time. (Reference: Chapter 3) - ANSWER-Tony wishes to purchase an annuity, but is concerned interest rates will rise significantly. What can Tony do to protect himself against this risk? A prescribed annuity. (Reference: Chapter 3) - ANSWER-What type of annuity should Brenda purhase with non-registered funds to provide her with a predicable and consistent taxable income? Provides periodic payments to be received by an annuitant in consideration of a lump sum or a series of sums deposited to the contract. (Reference: Chapter 3) - ANSWER-What is an annuity contract? Each of the two annuitants in a joint-life annuity. (Reference: Chapter 3) - ANSWER-Who is a co-annuitant? An annuity based on the life of an annuitant with a shortened life expectancy. Also known as an enhanced annuity or age-related annuity. (Reference: Chapter 3) - ANSWER-What is an impaired annuity? An annuity which, after the death of the annuitant, continues to be paid in whole or in part to the co-annuitant named in the contract, until their death. (Reference: Chapter 3) - ANSWER-What is a joint and last survivor annuity? An account created for the transfer of funds from a defined benefit pension plan, defined contribution pension plan or pooled registered pension plans. (Reference: Chapter 3) - ANSWER-What is a Locked-in Retirement Account (LIRA)? How are payout annuities funded? - ANSWER-They are funded by a premium or a deposit to the annuity contract by the contract's owner. What