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| 1. An annuity can have 2 distinct periods. What are they called, and what happens during each? |
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| 2. Who has all of the rights in an annuity? |
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| 3. Who receives benefits or payments from an annuity? |
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| 4. If the annuitant dies during the accumulation period, what happens to the account? |
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| 5. What is the difference between the annuitant and the beneficiary of an annuity? |
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| 6. What kind of annuity is used to accumulate funds for retirement? |
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| 7. What happens if a deferred annuity is surrendered prior to age 59 1/2? |
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| 8. How is the surrender value of a deferred annuity calculated? |
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| 9. How long will a life annuity with 15-year period certain pay? |
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| 10. How does inflation affect the purchasing power of a fixed annuity? |
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| 11. In a fixed annuity, how are the guaranteed and current interest rate related? |
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| 12. How is a deferred annuity taxed as it grows? |
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