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Question 1 of 4
1. Question
Tax deferral is an advantage of a:
- qualified annuity
- nonqualified annuity
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Question 2 of 4
2. Question
What is generally considered the principal disadvantage of a fixed annuity?
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Question 3 of 4
3. Question
Harry, age 45, purchased a nonqualified deferred annuity ten years ago with a $100,000 single premium and never previously took a cash value distribution from it. To what premature distribution tax penalty will he be subject if he takes a $25,000 distribution from the annuity when its cash value is $120,000, assuming no exception to the penalty applies?
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Question 4 of 4
4. Question
Audrey annuitized her $100,000 deferred annuity cash value as a straight life annuity under which she receives periodic payments of $10,000 annually. What is the maximum withdrawal she may take from the annuity after she has received two periodic payments?
