Quiz Summary
0 of 5 Questions completed
Questions:
Information
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading…
You must sign in or sign up to start the quiz.
You must first complete the following:
Results
Results
0 of 5 Questions answered correctly
Time has elapsed
You have reached 0 of 0 point(s), (0)
Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)
Categories
- Not categorized 0%
-
A score of 70% or better is required to proceed.
-
Congratulations, you passed the quiz!
You may proceed to the next chapter.
- 1
- 2
- 3
- 4
- 5
- Current
- Review
- Answered
- Correct
- Incorrect
-
Question 1 of 5
1. Question
The IRS imposes taxes when income is earned; however, ____ receive(s) favorable tax treatment and taxation is deferred until funds are withdrawn from the contract.
-
Question 2 of 5
2. Question
Which of the following terms means that the payment of taxes is postponed to a future date?
-
Question 3 of 5
3. Question
Brian owns a $100,000 annuity. It has a $30,000 cash value and he’s paid premiums of $1,000 a year for the past 15 years. What is the cost basis in Brian’s annuity?
-
Question 4 of 5
4. Question
The _____ is used to determine the taxable portion of each periodic payment from an annuity.
-
Question 5 of 5
5. Question
The IRS imposes a tax penalty of 10% when payments are made from an annuity before the contract owner reaches age:
