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Which of the following statements about life income settlement options is (are) false? I. Under a joint-and-survivor life income option, payments cease at the death of the second (last surviving) annuitant. II. Under a life income with guaranteed period, a contingent beneficiary is guaranteed a minimum number of payments regardless of when the primary beneficiary dies. A) I only B) II only C) both I and II D) neither I nor II

Who is the person who will receive lifetime payments from an annuity? OA) Administrator O B) Decedent OC) Executor OD) Annuitant

A death benefit on a life insurance policy can be paid in one of the following three ways: (i) A perpetuity of $250 at the end of each month (ii) $795.70 at the end of each month for n years (iii) One payment of $81,007 at the end of n years If each payment method produces the same present value for the death benefit, what is the present value of the death benefit? A. 48,300 B. 55,600 C. 61,900 D. 69,200 E. 78,500

Which of the following payments may be considered alimony? A. cash payment B. Child support 500 month C. Property settlement D. Payment on former spouces estate

2023 AGI Phase-Out Ranges for Traditional and Roth IRA Contributions to be used for this problem. 2023 AGI Phase-Out Ranges for Deductible Traditional IRA Contributions Type of Taxpayer Single or Head of Household, not a plan participant Single or Head of Household, active plan participant Married filing jointly, both active participants Married filing jointly, neither active plan participants Married filing jointly, one active participant: Active participant spouse Nonactive participant spouse Phase-Out Range No phase-out $73,000-$83,000 $116,000-$136,000 No phase-out (See Note 1 below) $116,000-$136,000 (Joint AGI) $218,000-$228,000 (Joint AGI) Note 1: When one spouse is an active participant in a retirement plan and the other is not, two separate income limitations apply. The active participant spouse may make a full deductible IRA contribution unless the $116,000-$138,000 phase-out range applies to the couple's joint income. The spouse who is not an active participant may make a…

One premortem liquidity planning technique is to reduce the client's potential gross estate. Which of the following actions may reduce the client's gross estate? Placing assets in a grantor-retained annuity trust (GRAT) with a 10-year term that names the client's child as remainderman Placing assets in a revocable living trust that disperses its assets to the client's child at the client's death Placing assets in an irrevocable trust in which the client is neither a beneficiary or trustee Placing assets in an irrevocable trust in which the client as sole trustee has discretion to distribute income     A) I, III, and IV     B) II, III, and IV     C) I and III     D) II and IV

An annuity that is established with a lump sum for the purpose of providing the investor with regular payments for the rest of the​ investor's life is called​ a(n) blank annuity. immediate  delayed

Morris Dell owns a variable annuity contract that contains a guaranteed lifetime withdrawal benefit (GLWB). This benefit guarantees that a specified portion of Mr. Dell's annuity will be invested in a fixed account rather than in subaccounts O that Mr. Dell can receive a minimum annuity payment amount annually based on the annuitization of the contract's benefit base Othat Mr. Dell can take annual withdrawals of a specified percentage of a protected value for life without annuitizing the contract O that the annuity contract's death benefit will be equal to the greater of either (a) the premiums paid, less any withdrawals or (b) the contract's accumulated value

9. Social Security payments to Deceased Dependants If the deceased was entitled to $1,100/per month and the widow is 67, how much would the widow be entitled to assuming the family max has not been met? Do Not use $ dollar $ signs in your answer

32. Which one of the following statements correctly identifies a purpose or characteristic of a second-to-die life insurance policy?     A) The premium will cost more than the combined premiums for separate policies on all of the insured parties.     B) When the insured parties are a husband and wife, a purpose may be to allow the first-to-die spouse to leave everything to the surviving spouse.     C) This policy is also known as a split dollar policy.     D) This is a type of policy that will pay benefits at the death of the first insured to die.

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The following relates to different types of registered plans: Registered Retirement Income Fund Tax-Free Savings Account Registered Education Savings Plan Registered Retirement Savings Plan What plan permits the amount contributed to be deducted from the individual's total income in the year contribution is made or carry forward if unused?   Question 2 options:   a)  i, ii and iii   b)  ii, iii and iv   c)  iv only   d)  None of the above

You are a pension fund manager who has obligations over the years to come of: t: CF: The applicable rate is: 0.08 What is the modified duration of this pension obligation? 1 2 3 7 2.3183 2.2123 O 2.4062 2.1293 2.0545 4 11.5 2.5 6.5

Contributions to a Traditional IRA may be tax-deductible depending on the taxpayer's income, tax - filling status, and other factors. Taxes on eamings are deferred until withdrawals begin, which is usually in retirement. 3. Discuss the role of Social Security benefits in a retirement plan by addressing the following: a. Purpose: describe the difference between FICA and Medicare. Next, indicate how each af these benefits are funded (i.e. emplayee, employer, or bath). b. Eligibility: summarize the eligibility requirements for collecting Social Security. c. Benefit Age: summarize the three ages that people usually collect Social Security. If you were close to the youngest age, would you start collecting as soon as possible, or would you delay? If you would delay, indicate the age you would select and provide your rationale. d. Retirement impact: describe the role that Social Security would play in your retirement plan. Based on the information provided in this module, what percentage of a…

When taxpayers receive distributions from qualified retirement plans, how much time is allowed to roll over the amount received into a new plan to avoid paying taxes on the distribution in the current year, assuming there are no unusual events? a. 60 days b. 90 days c. 180 days d. 1 year e. There is no time limit

The SECURE 2.0 Act of 2022, Section 307, allows a taxpayer who wants to make a charitable contribution from their IRA, to make a one-time rollover to an eligible split interest entity. What is the maximum amount allowed to be contributed? o $5.000 o $10.000 o $25.500 o $50.000

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Limited payment whole life insurance is a contract written for a given number of years after which the face value is automatically paid to the insured. True, False

Which of the following are characteristics of a perpetuity? Check all that apply. The present value of a perpetuity is calculated by dividing the amount of the payment by the investor’s opportunity interest rate. The principal amount of a perpetuity is repaid as a lump-sum amount. A perpetuity continues for a fixed time period. A perpetuity is a series of regularly timed, equal cash flows that is assumed to continue indefinitely into the future.       Your grandfather wants to establish a scholarship in his father’s name at a local university and has stipulated that you will administer it. As you’ve committed to fund a $15,000 scholarship every year beginning one year from tomorrow, you’ll want to set aside the money for the scholarship immediately. At tomorrow’s meeting with your grandfather and the bank’s representative, you will need to deposit ___________ (rounded to the nearest whole dollar) so that you can fund the scholarship forever, assuming that the account will earn…

With regard to group life insurance, which of the following statements are true? 1. An individual employee does not have the freedom to select a specific amount of insurance coverage, but rather the amount of coverage is typically a fixed dollar amount, or a variable amount in relationship to the employee's annual income. 2. There is typically a change in the premium rate each year. 3. Group insurance is normally a permanent type of insurance policy that provides long- term insurance protection for a significant number of Canadians. 4. An employee who participates in a group life insurance plan is unable to designate a beneficiary. Question 27 options: 1 and 2 1 and 4 2 and 3 3 and 4

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1.PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULASA person substitutes a total insurance policy of $300,000.00 for an annuity, with the condition that it will be paid to him or his heirs for 25 years. If the insurance company operates at 7¼% interest, find the value of the annuity, the amount of total interest, and the effective rate. Note:In the image, this is the original exercise, it is in Spanish, but it is easy to understand. Very important Note:It is necessary that you make a solution approach and then the result. Above all, to check the procedure and/or the formulas used, especially when you use excel.