3. Identify the type of retirement account that provides the annuitant with the greatest access to funds?

options:

A Reverse Mortgage
A Registered Life Annuity
A Life Income Fund
A Retirement Income Fund

4. Which of the following statements regarding permanent insurance policies is incorrect:

options:

WL policies have a level premium while UL policies have a flexible premium
Both WL and UL policies offer an investment account
WL policies and Term 100 policies are a form of permanent insurance
A policy owner of a WL policy has more control of their investments than a policy owner of a UL policy

5. Shannon participates in her employer's pension plan, which utilizes a career average formula to derive the pension benefit. Shannon knows that the sum of her pensionable earnings is $1,025,000 and that she accrues an annual benefit of 1.85%. Her annual pensionable earnings in the most recent three years are $50,000, $55,000, and $60,000. If Shannon has 22 years of service, what is her accrued annual pension benefit?

options:

$18,500
$18,963
$22,385
$24,420

Answer rating: 100% (QA)

3 Option B A Registered Lite Annuity Explanations Option A is wrong because maybe a Reverse Mortgage not a sort of pension plan that gives the annuita... View the full answer