1. Annuities 101 Knowledge Check

Name:
Which of the following were presented in the "Key Terms" section of the Annuities 101 slide presentation? Select all correct answers.
Owner
Cap
Annuity
Beneficiary
Interest
Annuitant
Participation Rate
Qualified/Nonqualified Funds
Premium
Index
Liquidity
Rider
List the names of the key dates in the order shown in the timeline. Separate each answer with a comma. E.G.; first date, second date, third date, fourth date, fifth date
Select the CORRECT statement regarding Annuities
Annuities do not generate income payments over a specified period of time.
Annuities have unlimited penalty free withdrawals
Annuities are an insurance product.
Annuities come from a word meaning "twice a year"
List at least 3, but up to 6 advantages to purchasing a MYGA. Separate each advantage with a comma and do not number your responses. E.G,: advantage one, advantage two, advantage three.
Select the CORRECT statements regarding Immediate Annuities
Was the first type of Annuity
Pays out as of 12th month
SILAC actively markets them
What are the two phases of any Annuity product?
Premium payment
Annuitization
Withdrawal phase
Free-look period
Accumulation
Renewal period
Which types of annuities do we carry here at SILAC? Select all correct answers.
Immediate Annuities
Variable Annuities
Fixed Annuities
Select the CORRECT statement or statements regarding FIA's
Offers potential growth based on Market Conditions
Offers guaranteed growth regardless of market conditions
Select the CORRECT statement or statements regarding MYGA's
Offers potential growth based on Market Conditions
Offers guaranteed growth regardless of market conditions
Label the steps in the Annuities Process Flow in order. Separate each answer with a comma. E.G.; first step, second step, third step, fourth step.
What does the Requirements status mean?
What does COM stand for?
What does PTF stand for?
List 3 common requests a client may call our ACE team for after their product is issue
What are 5 Annuitization income options we introduced?
Period Certain
Amount Certain
Life Only
Joint & Survivor
Life with 10 year Period Certain
Life with 20 year Period Certain
Qualified Funds are Post-Tax dollars
True
False
Select all the CORRECT parties to an Annuity Contract
Owner
Beneficiary
Manager
Premium Payor
Annuitant
Advisor
Agent
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