Funding method of annuity Study guides, Class notes & Summaries

214 FLORIDA INSURANCE LIFE AND VARIABLE ANNUITY ACTUAL EXAM UPDATED variable annuity - CORRECT 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 - CORRECT ANSWER-covers two or more lives and contiunes in force so long as any one of them survives period certain annuity - CORRECT ANSWER-annuity imcome option that guarantees a definite minimum peroid of paymen...

ERISA - Answer- Employee Retirement Income Security Act 1974 SOC Reports - Answer- Service Organization Controls: for external vendors SOC 1 - Answer- Internal Controls & Financial reports; used by auditors SOC 2 - Answer- Security, availability, processing integrity, confidentiality and privacy controls;used by management, regulators, and others under an NDA SOC3 - Answer- Same as SOC2, but available for public use. Tribble V Edison - Answer- Landmark court case re fiduciary resp...

Annuitization is - Answer- Accumulated values are converted into a stream of periodic income payments. How often can payments of annuities be paid out? - Answer- A specified term of years, for life, or a combination of the two. What is the reason (how has a consumer's priorities and needs shifted) that annuities are well suited for late-life retirement planning? - Answer- When a consumer priorities and needs typically shift from asset accumulation to income distribution What is the sta...

Entire Contract Provision - ANSWER found at the beginning of the policy, saying that the policy cannot refer to any outside documents as being part of the contract and prohibiting the insurer from making any changes to the policy after it has been issued. (can only make good changes not bad) Insuring Clause - ANSWER sets forth the company's basic promise to pay benefits upon the insured's death. Free-Look Provision - ANSWER gives policyowners the right to return the policy for a full pre...

Florida Life and Variable Annuity Latest 2024 100% Pass variable annuity 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 covers two or more lives and contiunes in force so long as any one of them survives period certain annuity annuity imcome option that guarantees a definite minimum peroid of payments life annuity payable during the continued life of the annuitant. No prov...

WGU D076 OVER 300 QUESTIONS AND ANSWERS LATEST ALREADY GRADED A+;BOTH OA AND FINAL EXAM ARE COMBINED PLUS ALL UNIT TESTS 100% VERIFIED What are the main services offered by financial institutions? A. Soliciting charitable donations and then managing the distribution of these funds B. Accepting a wide variety of deposits, offering investment products, providing loans, and brokering financial transactions C. Deciding which assets to invest in to create wealth in the future D. Evalu...

variable annuity - CORRECT 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 - CORRECT ANSWER-covers two or more lives and contiunes in force so long as any one of them survives period certain annuity - CORRECT ANSWER-annuity imcome option that guarantees a definite minimum peroid of payments life annuity - CORRECT ANSWER-payable during the continued life of th...

Accident, Life, and Health Insurance questions and answers 2024 Update Accident, Life, and Health Insurance questions and answers 2024 Update Accident, Life, and Health Insurance questions and answers 2024 Update Premiums paid by self-employed sole proprietors or partners for medical expense insurance are - answera) Not tax deductible b) Partially tax deductible c) Totally tax deductible What is the purpose of a conditional receipt - answera) It is given by the agent only to applicants who ful...

Florida Life and Variable Annuity Correct Questions and Answers(RATED A)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 p...

Accident, Life, and Health Insurance questions and answers 2024 Update Accident, Life, and Health Insurance questions and answers 2024 Update Premiums paid by self-employed sole proprietors or partners for medical expense insurance are - answera) Not tax deductible b) Partially tax deductible c) Totally tax deductible What is the purpose of a conditional receipt - answera) It is given by the agent only to applicants who fully prepay all scheduled premiums in advance of policy issu...