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Investments - Annuity

Quiz by Nancy Blume

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8 questions
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  • Q1
    An annuity is an insurance product.
    False
    True
    30s
  • Q2
    An annuity pays a steady stream of income.
    True
    False
    30s
  • Q3
    An annuity with a guaranteed payout is a
    Guaranteed Annuity
    Variable Annuity
    Fixed Annuity
    Flexible Annuity
    30s
  • Q4
    Money invested in an annuity for a period of time and withdrawn later usually in retirement is a
    Retirement Annuity
    Immediate annuity
    Deferred annuity
    Withdrawn Annuity
    30s
  • Q5
    An annuity has an annual contribution limit of $17,500.
    False
    True
    30s
  • Q6
    To avoid penalty fees you should not withdraw from an annuity until at least age
    65
    70 1/2
    59 1/2
    50 1/2
    30s
  • Q7
    The amount you contribute to an annuity is not taxed.
    False
    True
    30s
  • Q8
    A con/disadvantage of an annuity is
    no annual contribution limit
    steady stream of income
    high expenses/hidden fees
    defers paying taxes
    30s

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