Thrivent ch 5 questions I got wrong

Before he died, an annuitant had received $12,500 in monthly benefits from his $25,000 straight life annuity. He was also the insured under a $50,000 paid-up whole life policy that named his wife as primary beneficiary. Considering both contracts, how much will the annuitant's spouse receive in benefits?

$50,000

The current interest on an equity indexed annuity is often based on

An index like standard & poors 500

In an annuity, the accumulated money is converted into a stream of income during which time period?

Annuitization period

Which of the following is a short term annuity that limits the amounts paid to a specific fixed period of until a specific fixed amount is liquidated?

Annuity certain

Which of the following is NOT true regarding An annuity certain?

Benefits stop at the annuitant's death.

Which of the following is NOT fundable by annuities

Death benefits

Under a straight life annuity, if the annuitant dies before the principal amount is paid, the beneficiary will receive

Nothing; the payments will cease

An individual buys a flexible premium deferred life annuity with 20 year period certain. What would his beneficiary receive if he died 5 years after beginning the annuity phase?

Payments for 15 years

Which of the following is NOT true regarding the annuitant?

The annuitant cannot be the same person as the annuity owner.

In a fixed annuity, which of the following is true regarding the guaranteed interest rate on the investment?

The annuitant will receive the higher of either the guaranteed minimum rate or current rate.

The annuitant dies while the annuity is still in the accumulation stage. Which of the following is TRUE?

The beneficiary will receive the greater of the money paid into the annuity or the cash value.

Which of the following is true regarding a market value adjusted annuity?

The owner is guaranteed a fixed interest rate for a specific period of time.

All of the following statements are true regarding installments for a fixed amount EXCEPT

The payments will stop when the annuitant dies.

Which of the following best describes what the annuity period is?

The period of time during which accumulated money is converted into income payments

Which of the following is NOT true regarding equity indexed annuities?

They earn lower interest rates than fixed annuities.

Which of the following is NOT true regarding the life with guaranteed minimum annuity settlement option?

It does not guarantee that the entire principal amount will be paid out.

Which of the following is TRUE regarding the accumulation period of an annuity?

It is a period during which the payments into the annuity grow tax deferred.

When a fixed annuity owner pays his/her insurance company a monthly annuity premium, where is this money placed?

The insurance company's general account

Which of the following is a short term annuity that limits the amounts paid to a specific fixed period or until a specific fixed amount is liquidated?

annuity certain

Who bears all of the investment risk in a fixed annuity?

insurance company

All of the following information about a customer must be used in determining annuity suitability EXCEPT

beneficiary's age