Florida Agent's Health & Life (Including Annuities & Variable Contracts) Chapter 2 Questions And Correct Answers Updated Ve

Florida Agent's Health & Life (including Annuities & Variable Contracts) Chapter 2 Questions and Correct Answers Updated Version 2023 Good Luck A domestic insurer issuing variable contracts must establish one or more A Annuity accounts. B General accounts. C Separate accounts. D Liability accounts. - Correct AnswerC Separate accounts. Any domestic insurer issuing variable contracts must establish one or more separate accounts. The insurer must maintain in each separate account assets with a value at least equal to the reserves and other contract liabilities connected to the account. A lucky individual won the state lottery, so the state will be sending him a check each month for the next 25 years. What type of annuity products are they likely to use to provide these benefits? A Variable annuity B Flexible payment annuity C Deferred interest annuity D Immediate annuity - Correct AnswerD Immediate annuity An annuity purchased with a single lump-sum payment, with a 25-year fixed-period distribution will be most suitable for this arrangement. A man purchased a $90,000 annuity with a single premium, and began receiving payments 2 months after that. What type of annuity is it? A Immediate B Flexible C Deferred D Variable - Correct AnswerA Immediate