II. Annuity death benefits are generally paid in a lump sum. \hspace{10pt} Social security, 6%6\%6% on first $100,000\$100,000$100,000 of employee annual earnings covers more than one person. \hspace{10pt} \text{Sales salaries} & \$\hspace{5pt} 670,000 & \hspace{10pt} \text{Income tax withheld} & \$198,744\\ A)each annuity unit's value and the number of annuity units vary with time. In a variable life annuity with 10-year period certain, a contract holder receives: B) Municipal bonds. A variable annuity is a combination of 2 products: an insurance contract and a mutual fund. D)each annuity unit's value is fixed, but the number of annuity units varies with time. B) I and III. Variable annuity salespeople must register with all of the following EXCEPT: A) FINRA. Job Classification: Corporate - Legal and Compliance. With a fixed annuity, by contrast, the insurance company assumes the risk of delivering whatever return it has promised. C) III and IV. A)the state banking commission. This cloud model is composed of five essential characteristics, three service models, and four deployment models. Registration with FINRA is de facto registration with the SEC; no registration is required by the state banking commission. The growth portion is taxed as ordinary income. A 1 The applicant and possibly the agent initial any changes made. IBM is a global brand and has its presence in 170 countries and operates . Therefore, ordinary income taxes will apply to the entire $10,000. C)III and IV Reference: 12.3.2.1 in the License Exam. B) I and IV. C)the yield is always higher than bond yields. Variable annuities should be considered long-term investments due to the limitations on withdrawals. If a 42-year-old customer has been depositing money in a variable annuity for 5 years, and he plans to stop investing but has no intention of withdrawing any funds for at least 20 years, he is holding: D) II and III. C) value of underlying securities held in the separate account. A) periodic payment immediate annuity. An annuitant assumes the investment risk of a variable annuity and is not protected by the insurance company from capital losses. II. An accumulation unit in a variable annuity contract is: A)an accounting measure used to determine the contract owner's interest in the separate account. a variable annuity does not guarantee an earnings rate of return. Which of the following recommendations would best meet the customer profile? As the name implies, the investment performance of a variable annuity's portfolio (separate account) can vary, and the investor bears the risk of any potential decline in its value. If the account is annuitized, the investor has chosen a payout option. Reference: 12.1.2.1.1 in the License Exam. Indexed annuity owners receive credited interest tied to the fluctuations of the linked index An immediate annuity consists of a single premium An immediate annuity has a single premium. D) A 50 year old individual with $50,000 cash to invest who has already made the maximum contributions to an IRA and the 401(k) plan at his place of employment and would like to minimize some of the tax consequences of his currently high tax bracket. B)IRAs. D) Variable Annuity. A) number of annuity units. If you need to withdraw money from the account because of a financial emergency, you may face surrender fees. A)II and III C) There is no tax as the withdrawal is considered return of capital. B) fixed in value until the holder retires. D) 100% tax deferred. B) variable annuities. A)the yield is always higher than mortgage yields. A variable annuity is a security and must be registered with the SEC, not FINRA. This recommendation is: D) unsuitable because her situation exposes her to surrender charges and early withdrawal penalties in exchange for insufficient benefits. withdraw funds without any tax consequences. When the first party dies, the annuity payment is made to the survivor. When the annuitization option is selected, each payment represents both capital and earnings. Life Insurance vs. Annuity: What's the Difference? b) What probability is the 20%20 \%20% mentioned above? A)defined contribution plans. Question #36 of 48Question ID: 606805 This role is also eligible for annual short-term incentive compensation. The number of annuity units becomes fixed when the contract is annuitized; it is the value of each unit that fluctuates. B) suitable if she has enough equity in the home to fund the variable annuity without cashing out the other VA contract The client's investment objectives, tax bracket, investment experience and risk tolerance all align well with a VA recommendation. C) insurance companies keep variable annuity funds in separate accounts from other insurance products. C)Variable annuity contract with a discussion regarding interest rate risk A variable annuity is a type of annuity contract, the value of which can vary based on the performance of an underlying portfolio of sub accounts. Once a variable annuity has been annuitized: Therefore, variable annuities must be registered with the state insurance commission and the Securities and Exchange Commission. Refinancing a home to draw out equity has been identified by FINRA as an abusive sales tactic regarding the sales of VAs. 8 annuities provide a guaranteed rate of return, whereas annuities provide conservative to aggressive investments whose rates of return are not guaranteed. An investor who has purchased a nonqualified variable annuity has the right to: Variable annuities must be registered with: All of the following statements concerning a variable annuity are correct EXCEPT: D) variable annuities will protect an investor against capital loss. b. vote on proposed changes in investment policy. \hspace{10pt} State unemployment (employer only), 3.8%3.8\%3.8% Though there is no beneficiary designation during the annuitization, this is not an issue for this annuitant. D)II and III. D)partially a tax-free return of capital and partially taxable. When the second party dies, all payments cease. C) III and IV Question #40 of 48Question ID: 606800 B)I and IV. IBM Noida, Uttar Pradesh, India1 month agoBe among the first 25 applicantsSee who IBM has hired for this roleNo longer accepting applications. A) III and IV. A registered representative explaining variable annuities to a customer would be CORRECT in stating that: Based only on these facts, the variable annuity recommendation is These contracts come with high surrender charges. Facebook reports that 70%70 \%70% of their users are from outside the United States and that 50%50 \%50% of their users log on to Facebook daily. A)not suitable If the annuitant dies during the accumulation period, his/her beneficiary will receive the promised annuity payments. U.S. Securities and Exchange Commission. No software installation. U.S. Securities and Exchange Commission. A 60-year-old individual, nearing retirement who has both IRAs and a 401k in place, is comfortable with market risk associated with the stock market, and has a lump sum in cash available to fund the annuity B) The investor's marital status. Outgoing personality with the ability to develop relationships (i.e., "People Person") and a sincere desire to help others Fearless, positive attitude, and willingness to be accountable for results Organized, detail-oriented, and excellent time-management skills A desire for continuous learning The number of variable annuity accumulation units can rise during the accumulation period when additional units are being purchased. An individual who purchases a Life annuity is given protection against: the risk of living longer than expected The type of annuity that can be purchased with one monetary deposit is called a (n) Immediate annuity N purchases an annuity by making payments in an amount no less than $100 quarterly. D)A 10% penalty plus the payment of ordinary income tax on funds withdrawn in excess of the owner's basis. *The number of variable annuity accumulation units can rise during the accumulation period when additional units are being purchased. A) defined contribution plans. The growth portion is taxed as a capital gain. Policyholders . The amount of the purchase payments that go into the account may be less than you paid because fees were taken out of the purchase payments. The value of these units varies with the performance of the separate account. A) changes in common stock prices tend to be more closely related to changes in the cost of living than changes in bond prices. B) II and III If the annuitant should die during that time, any death benefit would be paid to a beneficiary designated by the annuitant at the time the annuity was purchased. Determine the revenue equation given the profit and expense equations. B)part earnings and part cost basis A) 4000. a. 2019 Ted Fund Donors A)exempt from taxes D)Investment risk. Fixed annuities are not considered securities as return is guaranteed by the insurance company issuer. Reference: 12.1.1 in the License Exam. A)III and IV. Distributions from nonqualified variable annuities are: Fixed Annuity: A fixed annuity is a type of annuity contract that allows for the accumulation of capital on a tax-deferred basis. *Under the mortality guarantee, the insurance company assumes mortality risk by guaranteeing payments for life, though the amount of each payment is not guaranteed. A) I and II. The noble relatives of the Count d'Horn absolutely blocked up the ante-chambers of the regent, praying for mercy on the misguided youth, and alleging that he was insane . Fixed annuities. B) The policyowner. D) the yield is always higher than mortgage yields. A) be paid to a designated beneficiary. Try The following changes have been incorporated into Special Publication 800145, as of the date indicated - . A variable annuity is a type of annuity contract the value of which can vary based on the performance of an underlying portfolio of sub accounts. B) accumulation units. Given that all of the current retirement investments are subject to market risk, the customer wants these new funds to have no market risk exposure. Lifetime vs. fixed period annuities B) I and II. B) the client may vote for the board of directors or board of managers. Life with period certain will produce a smaller check for life because the insurance company will guarantee payments to a beneficiary for a certain period of time designated in the contract should the annuitant die within that period. **Because common stocks are not fixed dollar investments, they have the opportunity to keep pace with inflation. D) a minimum of 10 years of variable payments, followed by additional variable payments for life. a variable annuity does not guarantee an earnings rate of return. Variable annuity salespeople must register with all of the following EXCEPT: Fixed interest rates during the payout period The value of each accumulation unit varies: Daily Variable annuities have Variable interest rates and benefits All of the following statements are true regarding the interest rate guarantees of fixed annuities, EXCEPT: An annuity factor is taken from the annuity table, which considers, for example, the investor's sex and age. IBM Noida, Uttar Pradesh, India4 weeks agoBe among the first 25 applicantsSee who IBM has hired for this roleNo longer accepting applications. Ted's Bio; Fact Sheet; Hoja Informativa Del Ted Fund; Ted Fund Board 2021-22; 2021 Ted Fund Donors; Ted Fund Donors Over the Years. B)corporate stock. Reference: 12.1.2 in the License Exam, Question #23 of 48Question ID: 901858 B) 0. Variable annuity Which of the following is characteristic of fixed annuities? D)an accounting measure used to determine payments to the owner of the variable annuity. Usually the term "annuity" relates to a contract between an individual and a life insurance company.
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