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8-Hour Annuity Training Course Exam New Year Actual Questions and Answers 100% Verified Who bears the risk of principal loss in a variable annuity with respect to funds the owner has allocated to the separate account? Answer- the insurer If a consumer wants to receive monthly periodic payments from an annuity beginning in one month, what kind of annuity should he or she buy? Answer- immediate California Insurance Code Section 787(b) defines advertising broadly, when targeted to people age 65 or older, and includes all of the following EXCEPT: Answer- beneficiary change forms All of the following are crisis conditions for which insurers will normally waive surrender charges under an annuity surrender charge waiver rider EXCEPT: Answer- declaring bankruptcy Shirley is a teacher in a public school and allocates part of her salary to a retirement plan available only to non-profit organizations and public school employees. Under what kind of retirement plan is she covered? Answer- a defined benefit plan For what period do surrender charges normally apply in a seven year multi-year guarantee annuity? Answer- three years What is the minimum period that must normally elapse between an agent's delivery of a written notice to a senior concerning an appointment and the time that an agent meets in the senior's home? Answer- 24 hours On what date are periodic payments under a deferred annuity scheduled to begin?Answer- annuity starting date Which of the following allocation options in a variable annuity guarantees principal and a minimum interest crediting rate but is not a variable subaccount in an insurer's separate account? Answer- the common stock account A(n) _____ is a measure of performance of certain stocks that are included in a particular portfolio in relation to a base value established earlier. Answer- equity index Audrey applied for Medi-Cal and notified the state that she prohibits the state from becoming a remainder beneficiary of her annuity. In what will such a notification result?
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