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| Author : | Paul Winn, CLU, ChFC |
| Course Length : | Pages: 80 ||| Word Count: 39,271 ||| Review Questions: 27 ||| Final Exam Questions: 33 |
| CPE Credits : | 6.5 |
| IRS Credits : | 6 |
| Price : | $58.50 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - NASBA Registry - IRS Enrolled Agents |
| Technical Designation: | Technical |
| Primary Subject-Field Of Study: | Taxes - Taxes for Course Id 2451 |
| Description : | Annuities examines the annuity concept and explains what an annuity is and how it works. The mechanics of the accumulation and payout phases of an annuity are examined and sample calculations are discussed. An explanation of settlement options and their appropriate uses are covered. |
| Usage Rank : | 0 |
| Release : | 2025 |
| Version : | 1.0 |
| Prerequisites : | None. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
Annuities
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| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 14-Jan-2025 |
| NASBA Course Declaration : | Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
| Approved Audience : | NASBA QAS - Text - NASBA Registry - IRS Enrolled Agents - 2451 |
| Keywords : | Taxes, Annuities, cpe, cpa, online course |
| Learning Objectives : |
Course Learning Objectives Upon completion of this basic course, the student should be able to:
2. List the characteristics of annuities and the benefits of tax deferral 3. Explain how variable annuities work 4. Identify the cash value management tools available to a variable annuity contract owner 5. List the factors to be considered in determining variable annuity suitability 6. Calculate interest to be credited under various fixed annuity contracts 7. Explain the operation of indexed annuities 8. Describe how annuities are taxed 9. Recognize the requirements imposed on the sale of variable annuities under Regulation Best Interest Chapter 1 When you have completed this chapter you should be able to:
Chapter 2 When you have completed this chapter you should be able to:
Chapter 3 When you have completed this chapter you should be able to:
Chapter 4 When you have completed this chapter you should be able to:
Chapter 5 When you have completed this chapter you should be able to:
Chapter 6 When you have completed this chapter you should be able to:
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| Course Contents : | Course Learning Objectives How You Will Learn Why This Information is Important and How You Can Use It Chapter 1 - Introduction to Annuities and Annuity Buyers Important Lesson Points Chapter Learning Objectives Introduction Demographics of Non-Qualified Annuity Purchasers Annuity Demographic Changes Why Buyers Purchase Non-Qualified Annuities Guaranteed Lifetime Income Study Anticipated Annuity Market The Annuity Concept Annuities in Operation Summary Test Your Comprehension Chapter 2 - Characteristics of Annuities Important Lesson Points Chapter Learning Objectives Introduction Premiums Single Premium Annuities Level Premium Annuities Flexible Premium Annuities Annuity Expenses Surrender Charges M&E Charges and Investment Advisory Fees Lives Covered by the Annuity Multiple Life Annuities When Payout Begins Deferred Annuity Immediate Annuity Cash Value Accumulation Fixed Annuities Variable Annuities Death Benefits Annuitization Methods Temporary Annuity Life Annuity Annuities and the SECURE Act 2.0 Qualifying Longevity Annuity Contracts Divorce After QLAC Purchase Penalty on Partial Annuitization Summary Test Your Comprehension Chapter 3 - Variable Annuities Important Lesson Points Chapter Learning Objectives Introduction Separate Account and Structured Investment Option Insurer’s General Account Supports Variable Annuity’s Fixed Account Deferred Annuity Accumulation Variable Subaccounts Comprise Insurer’s Separate Account Variable Subaccount Value may Fluctuate Daily VA Accumulation Units Structured Investment Option Managing Separate Account Volatility Separate Account Management Tools Diversification Asset Allocation Automatic Subaccount Re-balancing Fund Transfer Dollar Cost Averaging Interest Sweep Variable Annuity Death Benefits Traditional Variable Annuity Death Benefit Guarantee Variable Annuity Rollup Death Benefit Guarantee Variable Annuity Step-Up Death Benefit Guarantee Living Benefit Guarantees Guaranteed Minimum Income Benefit Guaranteed Minimum Accumulation Benefit Guaranteed Withdrawal Benefit Variable Annuity Payout (Annuitization) Phase Mechanics of Variable Annuitization Features and Benefits Suitability Compliance Requirements Combining Fixed and Variable Annuities Summary Test Your Comprehension Chapter 4 - Types of Fixed Annuity Contracts Important Lesson Points Chapter Learning Objectives Introduction Traditional Declared-Rate Annuities Bonus Annuities Multi-Year Guarantee Annuities Indexed Annuities Current Interest Rates base on an Interest Index Current Interest Rates base on an Equity Index Determining Indexed Annuity Cash Value Index Call Options Interest Crediting Methods Spread Cap Rate Annuitization in Indexed Annuity Contracts Guaranteed Lifetime Withdrawal Benefits Summary Test Your Comprehension Chapter 5 - Annuity Taxation Important Lesson Points Chapter Learning Objectives Introduction Income Tax Treatment Premiums Cash Values Surrenders and Withdrawals Annuity Payments During Lifetime Thumbnail Summary of Nonqualified Annuity Taxation Annuitant’s Death After Annuity Starting Date Contract Owner’s Death Before Annuity Starting Date Estate Tax Treatment Summary Test Your Comprehension Chapter 6 Annuity Sales Practices, Replacement and Disclosure Requirements Important Lesson Points Chapter Learning Objectives Introduction Suitability Securities Exchange Commission Rules Regulation Best Interest Effect of Regulation Best Interest Suitability Defined Suitability Requirements Buyer Competence Replacement and Exchange Mitigation of Suitability Requirement Obtaining and Maintaining Records Disclosure Potential Surrender Period and Surrender Charge Potential Tax Penalties Mortality and Expense Risk Charges and Investment Advisory Fees Rider Charges and Features Limitations on Interest Crediting Insurance and Investment Components Market Risk Annuity Sales & Best Interest Obligation Nature of a “Recommendation” The Care Obligation The Disclosure Obligation The Conflict of Interest Obligation The Documentation Obligation Transactions not Based on a Producer Recommendation Summary Test Your Comprehension Appendix A - Bond Ratings Appendix B - Basic Characteristics Of Securities Appendix C - Decisional Factors in Variable Annuity Suitability Appendix D - Variable Annuity Buyer Profile Appendix E - Annuity 1035 Exchange Considerations Appendix F - Annuity, 401(k) & IRAs Appendix G - Formulas & Examples Appendix H - Agent Disclosure Appendix I - Refusal to Provide Information Appendix J - Non-Recommended Purchase Glossary |
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