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Annuity Growth and Accumulation Quiz

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Questions and Answers

Who is usually the policyholder and annuitant in an annuity contract?

The insurance company

The annuity broker

The investor (correct)

The beneficiary

What is the purpose of the Annuity Calculator mentioned in the text?

To show growth based on regular deposits during the accumulation phase of an annuity (correct)

To determine the income payment phase of an annuity

To estimate the life expectancy of the annuitant

To calculate the cash surrender value of an annuity

What determines the terms of an annuity based on the text?

The insurance company's profit margin

The life expectancy and age of the annuitant (correct)

The amount of the initial deposit

The performance of the stock market

What does the annuity owner have the right to, based on the text?

The cash surrender value Signup and view all the answers

In what phase of an annuity is the income payment determined?

Payout phase Signup and view all the answers

What is the defining characteristic of an immediate annuity?

The time between the contract date and the first payment is short Signup and view all the answers

What is the main purpose of an immediate annuity?

Provide a pension to a retired person Signup and view all the answers

What is the difference between a Swiss annuity and a European annuity?

Tax treatment Signup and view all the answers

What are the characteristics of payments made by an immediate annuity?

Level or fluctuating periodical payments made annually or at more frequent intervals Signup and view all the answers

What is the duration of payments for an annuity certain?

Fixed duration during the lifetime of one or more persons Signup and view all the answers