California Life Insurance State Exam Simulator Questions And Correct Answers 2024.

Exclusion ratio - Answer An annuitant would life to determine the amount of an annuity distribution that is exempt from taxation. What is used to calculate this? Mortality rate, Exclusion ratio, Morbidity rate, Debt-to-Equity ration Offers a maximum interest rate that increases annually - Answer Which of the following is NOT a feature of equity-indexed annuities? Offers long term inflation protection, Offers a minimum guaranteed rate, Offers a maximum interest rate that increases annually, Offers protection during a decline in the stock market Joint and survivor annuity - Answer What kind of annuity pays income to two annuitants until their deaths? Period certain annuity Joint and survivor annuity Straight life annuity Installment refund For a minimum of 120 months and a maximum of the remainder of his life - Answer Victoria owns a life annuity and elects to receive annuity payments monthly for the remainder of her life with "ten years certain". Her annuity will make payments For a period of time dependent on the performance of the annuity's underlying assets For a maximum of 120 months For the remainder of her life only