Single vs. Flexible Premium Annuities

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What type of annuity option involves paying a lump sum to fund the contract?

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1. What type of annuity contract is funded with an initial payment and then subsequent contributions?

2. Which of the following is NOT a characteristic of a single premium annuity?

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About This Quiz & Worksheet

What are the differences between single and flexible premium annuities? See what you comprehend about these differences by using the quiz and worksheet.

Quiz & Worksheet Goals

You'll get to check your understanding of:

  • Type of annuity contract that is funded with an initial payment and then subsequent contributions
  • Characteristics of an annuity
  • Flexible premium annuity
  • The type of annuity that involves paying a lump sum to fund the contract
  • Characteristics of a single premium annuity

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the lesson on single and flexible premium annuities
  • Information recall - access the knowledge you have gained about characteristics of an annuity
  • Interpreting information - verify that you can read information about traits of a single premium annuity and interpret it correctly

Additional Learning

In order to learn more, use the lesson titled Single vs. Flexible Premium Annuities. You'll get to analyze more about:

  • The purpose of an annuity
  • Examples of annuities
  • How single premium annuities differ from flexible premium annuities
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