瑞达 Rejda 保险教材英文练习题14

瑞达Rejda保险教材英文练习题14瑞达Rejda保险教材英文练习题14瑞达Rejda保险教材英文练习题14资料仅供参考文件编号：2022年4月瑞达Rejda保险教材英文练习题14版本号：A修改号：1页次：1.0审核：批准:发布日期：PrinciplesofRiskManagementandInsurance,11e(Rejda)Chapter14AnnuitiesandIndividualRetirementAccounts1)Whichofthefollowingstatementsis(are)truewithrespecttoannuitiesI. Annuitiesaretheoppositeoflifeinsurance.II. Thefundamentalpurposeofannuitiesistoreplacelostincomeincaseofprematuredeath.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:AQuestionStatus:PreviousEdition2)Whensellinglifeannuities,whatriskistheinsurerpoolingA)badinvestmentperformanceB)prematuredeathC)badexpenseexperienceD)excessivelongevityAnswer:DQuestionStatus:PreviousEdition3)LifeannuitypaymentsaremadeupofallofthefollowingEXCEPTA)returnofpremiums.B)interestearnings.C)unliquidatedprincipalofannuitantswholivetoolong.D)unliquidatedprincipalofannuitantswhodieearly.Answer:CQuestionStatus:PreviousEdition4)Stanpaidaninsurancecompany$50,000foranannuitywhenhewas50yearsold.Atage62,Stanplanstobegintoreceivepaymentsfromtheinsurer.Basedonthedescriptionprovided,thisannuitycanbedescribedasa(n)A)deferredannuity.B)lifeannuitywithguaranteedpayments.C)immediateannuity.D)variableannuity.Answer:AQuestionStatus:PreviousEdition

5)Cassie,age62,paidalifeinsurer$100,000inexchangeforalifeannuity.IfCassiediesbeforereceiving120monthlypaymentsfromtheinsurer,theremainingpaymentswillbemadetoabeneficiary.IfCassiediesafterreceiving120payments,noadditionalpaymentsaremadebytheinsurer.CassiehaspurchasedaA)variableannuity.B)lifeannuitywithguaranteedpayments.C)installmentrefundannuity.D)cashrefundannuity.Answer:BQuestionStatus:PreviousEdition6)Whichofthefollowingstatementsis(are)truewithrespecttoajoint-and-survivorannuityI. Somejoint-and-survivorannuitiesreducetheincomepaymentafterthefirstannuitantdies.II. Nopaymentsaremadeafterthefirstannuitantdies.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:AQuestionStatus:PreviousEdition7)Duringthefundingperiod,thepremiumspaidforavariableannuityareusedtopurchaseA)annuityunits.B)immediateparticipationshares.C)mutualfundshares.D)accumulationunits.Answer:DQuestionStatus:PreviousEdition8)Bradfundedalifeannuitythroughinstallmentpayments.Atage60,hedecidedtoelectanannuitysettlementoptionandtobegintoreceivepayments.WhichofthefollowinglifeincomeoptionswillprovideBradwiththehighestmonthlyincomeA)lifeannuity(norefund)B)lifeincomewithpaymentsguaranteedfor5yearsC)lifeincomewithpaymentsguaranteedfor10yearsD)installmentrefundannuityAnswer:AQuestionStatus:PreviousEdition

9)Whichofthefollowingstatementsis(are)truewithrespecttothecash(lumpsum)annuitysettlementoptionI. Thetaxableportionofthedistributionissubjecttofederalandstateincometaxes.II. Theoptionresultsinadverseselectionagainsttheinsurerasthoseinpoorhealtharemorelikelytotakecashthantoannuitizethefunds.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:CQuestionStatus:PreviousEdition10)Whichofthefollowingstatementsis(are)truewithrespecttovariableannuitiesI. Thepriceatwhichaccumulationunitscanbepurchasedfluctuatesduringthefundingperiod.II. Thevalueofannuityunitsfluctuatesovertime.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:CQuestionStatus:PreviousEdition11)Bridgetstartedtofundavariableannuity.Threeyearslater,sheexperiencedfinancialdifficulty.Shecalledheragentandcancelledthecontract.Theinsurerreturnedallbut4percentoftheaccountbalance.The4percentkeptbytheinsurerisa(n)A)accountadministrationfee.B)investmentmanagementfee.C)front-endload.D)surrendercharge.Answer:DQuestionStatus:PreviousEdition12)Insurersofferingvariableannuitieschargeanumberofexpenses.Onecategoryofexpensesistopaythefundmanagerandtopaybrokeragefees.ThisexpenseistheA)investmentmanagementcharge.B)administrativecharge.C)surrendercharge.D)front-endload.Answer:AQuestionStatus:PreviousEdition

13)Insurersofferingvariableannuitieschargeanumberoffeesandexpenses.Onecategoryoffeesandexpensesischargedtocoverthecostofrecordkeeping,paperwork,andperiodicreportstoannuityowners.ThisexpenseistheA)investmentmanagementcharge.B)surrendercharge.C)administrativecharge.D)front-endload.Answer:CQuestionStatus:PreviousEdition14)AllofthefollowingstatementsaboutvariableannuitiesaretrueEXCEPTA)Theperiodicpaymentsreceivedbytheannuitantfluctuate.B)Variableannuitiestypicallyprovideaguaranteeddeathbenefitpayabletoabeneficiaryiftheannuitantdiespriortoretirement.C)Insurersofferingvariableannuitieschargeavarietyoffeesandexpenses.D)Althoughthevalueofannuityunitsfluctuates,accumulationunitshaveafixedvalue.Answer:DQuestionStatus:PreviousEdition15)Whichofthefollowingstatementsis(are)truewithrespecttoanequity-indexedannuityI. Themaximumpercentagegainisusuallycapped.II. Thereisnodownsideprotectionagainstlossofprincipaliftheannuityisheldtoterm.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:AQuestionStatus:PreviousEdition16)Withanequity-indexedannuity,whatnameisgiventothemethodofcreditingexcessinteresttotheannuityA)thecapitationmethodB)theindexingmethodC)thedistributionmethodD)theearningsmethodAnswer:BQuestionStatus:PreviousEdition17)Underanequity-indexedannuity,whatnameisgiventothepercentageincreaseinthestockindexthatiscreditedtothecontractA)theexpenserateB)theexclusionratioC)theindexingrateD)theparticipationrateAnswer:DQuestionStatus:PreviousEdition18)Whichofthefollowingstatementsregardingthetaxationofindividualannuitiesis(are)trueI. Theexclusionratioisthepercentageoftheannuityincomethatistaxable.II. Afterthenetcostoftheannuityhasbeenpaidtotheannuitant,thetotalannuitypaymentistaxable.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:BQuestionStatus:PreviousEdition19)Juanitapaidalifeinsurer$45,000inexchangeforanimmediatelifeannuity.Juanitawillreceive$500permonthfromtheinsurer,andherlifeexpectancyis15years(180months).WhatistheexclusionratiointhiscaseA)percentB)percentC)percentD)percentAnswer:CQuestionStatus:PreviousEdition20)Juanitapaidalifeinsurer$45,000inexchangeforanimmediatelifeannuity.Juanitawillreceive$500permonthfromtheinsurer,andherlifeexpectancyis15years(180months).AssumethatJuanitareceives12monthlypaymentsof$500thefirstyear.HowmuchtaxableincomemustshereportA)$3,000B)$4,000C)$4,500D)$6,000Answer:AQuestionStatus:PreviousEdition21)Juanitapaidalifeinsurer$45,000inexchangeforanimmediatelifeannuity.Juanitawillreceive$500permonthfromtheinsurer,andherlifeexpectancyis15years(180months).IfJuanitaisalive20yearslater,howmuchofthe$6,000receivedduringtheyearistaxableA)nothingB)$3,000C)$4,500D)$6,000Answer:DQuestionStatus:PreviousEdition

22)Whichofthefollowingstatementsis(are)trueregardingthetaxationofdistributionsfromindividualannuitiesI. Individualannuitydistributionsarenevertaxable.II. Oncetheannuitanthasrecoveredthepremiumsheorshepaidfortheannuity,theentireannuitydistributionistaxable.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:BQuestionStatus:PreviousEdition23)AllofthefollowingarepermissibleIRAinvestmentsEXCEPTA)mutualfunds.B)lifeinsurance.C)individualstocks.D)bonds.Answer:BQuestionStatus:PreviousEdition24)Whichofthefollowingstatementsis(are)trueregardingtheRothIRAI. RothIRAcontributionsaretaxdeductible.II. RothIRAinvestmentincomeaccumulatesincome-taxfree.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:BQuestionStatus:PreviousEdition25)Ritais66yearsold.Sheearned$20,000thisyearworkingpart-timeatastoreandhermodifiedadjustedgrossincomewas$28,000.Ritaisconsideringmakinga$3,000contributiontohertraditionalIRA.WhichofthefollowingstatementsistrueregardingthiscontributionA)RitacannotcontributetohertraditionalIRAbecausesheisoverage65.B)Ritacanmakea$3,000contributiontohertraditionalIRA,butitisnottaxdeductible.C)Ritacanmakea$3,000contributiontohertraditionalIRA,butitisonlypartiallytaxdeductible.D)Ritacanmakea$3,000contributiontohertraditionalIRA,anditisfullytaxdeductible.Answer:DQuestionStatus:PreviousEdition

26)Daryl,age42,quithisjob.Hisemployerofferedadefinedcontributionpensionplan,andthebalanceintheaccountwas$30,000whenDarylquit.HecanavoidimmediatetaxationofthesefundsbyA)takingalump-sumdistribution.B)usinganIRArolloveraccount.C)receivingthemoneythroughfourequalinstallments.D)usingthefundstopurchasecommonstockissuedbytheformeremployer.Answer:BQuestionStatus:PreviousEdition27)Whichofthefollowingstatementsis(are)truewithregardtoRothIRAsI. TheportionofaRothIRAdistributionthatisattributabletoinvestmentincomeistaxable.II. ThereisamaximumincomelevelabovewhichRothIRAcontributionsarenotallowed.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:BQuestionStatus:PreviousEdition28)AllofthefollowingstatementsabouttraditionalandRothIRAsaretrueEXCEPTA)TraditionalIRAcontributionsmaybefully,partially,ornotincometaxdeductible.B)QualifieddistributionsfromRothIRAsarereceivedincometaxfree.C)ContributionstoRothIRAsaremadewithafter-taxdollars.D)TraditionalIRAsareexemptfromthepenaltytaxonprematuredistributions.Answer:DQuestionStatus:PreviousEdition29)WhichofthefollowingpersonscanestablishatraditionalIRAI. Personswhoseonlyincomereceivedisfrominvestments.II. Employedpersonsunderagewhoarenotactiveparticipantsinanemployer-sponsoredretirementplan.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:BQuestionStatus:PreviousEdition

30)Donnaissingleandearns$30,000annually.Sheiscoveredunderheremployer'sretirementplan.DonnawouldliketostartatraditionalIRAandcontribute$3,000thisyear.WhichofthefollowingdescribesherabilitytoestablishatraditionalIRAandthetaxtreatmentofhercontributionA)Hercontributionisfullytaxdeductible.B)Hercontributionispartiallytaxdeductible.C)Noportionofthecontributionistaxdeductible.D)DonnaisnoteligibletoestablishatraditionalIRA,sonocontributioncanbemade.Answer:AQuestionStatus:PreviousEdition31)WhichofthefollowingstatementsaboutthewithdrawaloffundsfromatraditionalIRAistrueA)Withdrawalsofdeductiblecontributionsbetweentheagesofand65aresubjecttoataxpenaltyunlesstheyarewithdrawnbecauseofspecifiedcircumstancessuchasdeathorlong-termdisability.B)Amountsattributabletonondeductiblecontributionsarefullytaxableasordinaryincomewhenreceived.C)WithdrawalsmustbeginnolaterthanApril1oftheyearfollowingthecalendaryearinwhichanindividualattainsage.D)Withdrawalsmustbetakenintheformofanannuity.Answer:CQuestionStatus:PreviousEdition32)AllofthefollowingarecircumstancesunderwhichwithdrawalsfromatraditionalIRAmaybemadepriortoagewithoutincurringasubstantialpenaltyEXCEPTA)Thewithdrawalisinsubstantiallyequalinstallmentspaidovertheindividual'slifeexpectancy.B)Thewithdrawalisusedtopaylivingexpensesafterunemploymentinsurancebenefitscease.C)Thewithdrawalisusedtopayunreimbursedmedicalexpensesthatexceedpercentofadjustedgrossincome.D)Thewithdrawalisbecauseofincomeneededduetotheindividual'sdisability.Answer:BQuestionStatus:PreviousEdition33)Whichofthefollowingstatementsregardingindividualretirementaccounts(IRAs)is(are)trueI. Ifanindividual'sonlyincomeduringtheyearisfrominvestments,heorshecannotmakeanIRAcontribution.II. ThefundsintheIRAcanbeusedtopurchaselifeinsuranceontheowner.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:AQuestionStatus:PreviousEdition34)Whichofthefollowingstatementsis(are)truewithregardtoIRAsI. Contributionlimitsarehigherforworkersaged50andolder.II. AspousewhodoesnotworkoutsideofthehomemaymakeafullydeductiblecontributiontoatraditionalIRAevenifhisorherspouseiscoveredbyaretirementplanatwork.A)IonlyB)IIonlyC)bothIandIID)neitherInorIIAnswer:CQuestionStatus:PreviousEdition35)ThefundamentalpurposeofavariableannuityisA)toprovidefundingflexibilitytothepurchaser.B)toprovideahedgeagainstinflation.C)tofundthepurchaseofcashvaluelifeinsurance.D)toguaranteeafixed-dollarbenefitthroughoutretirement.Answer:BQuestionStatus:PreviousEdition36)AnimmediatelifeannuityoffersallofthefollowingbenefitsEXCEPTA)Interestincomecanbeearnedduringthelongdeferralperioduntilannuitypaymentsbegin.B)Simplicityforthepurchaserasheorshedoesnothavetomanageinvestmentfunds.C)Securityforthepurchaserasstablelifetimeincomethatcannotbeoutlivedisprovided.D)Theprincipalissafeasthefundsareguaranteedbytheassetsoftheinsurer.Answer:AQuestionStatus:PreviousEdition37)Whichofthefollowingstatementsis(are)truewithregardtotheinflation-indexedannuityoptionI. Theinitialmonthlypaymentislowerthantheinitialpaymentafixedannuitywouldhaveprovidedifpurchasedatthesameage.II. Periodicpaymentstotheannuitantareadjustedforinflation.A)IonlyB)IIonlyC)bothIandIID)neitherIn