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INSURANCE

Authored by Cole Ferrao

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Professional Development

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INSURANCE
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50 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An immediate annuity has been purchased with a single premium. When does the annuitant typically begin receiving benefit payments?

  1. 1 month

  1. 6 months

  1. 24 months

  1. 12 months

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Within how many days must a Traditional IRA be rolled over to another IRA in order to avoid tax consequences?

  1. 45

  1. 90

60

30

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Within how many days must a rollover be completed in order to avoid being taxed as current income?

  1. 120

  1. 60

  1. 90

30

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A rollover from a Traditional IRA to another IRA MUST be done within ___ days to avoid tax consequences.

90

30

15

60

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond

100 days

60 days

120 days

30 days

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How soon can the benefit payments begin with a deferred annuity?

Anytime within 12 months after date of purchase

Anytime after date of purchase

A minimum of 12 months after date of purchase

A minimum of 6 months after date of purchase.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A Roth IRA owner must be at least what age in order to make tax-free withdrawals?

  1. 59 1/2 and owned account for a minimum of 10 years

  1. 59 1/2 and owned account for a minimum of 5 years

  1. 70 1/2 and owned account for a minimum of 5 years

  1. 70 1/2 and owned account for a minimum of 10 years

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