PART 6—KEY TERMS

Define the following:

annuity decision tree

 

fixed immediate annuity 

 

variable immediate annuity

 

fixed deferred annuity 

 

variable deferred annuity

 

accumulation units

 

dollar-cost averaging 

 

mortality and expense charges 

 

separate account expenses

 

free corridor withdrawal 

 

annuity evaluation checklist

 

TEFRA 

 

DEFRA 

 

Tax Reform Act of 1986

 

TAMRA 

 

minimum distributions 

 

qualified annuity 

 

nonqualified annuity

 

exclusion ratio formula

 

annual reduction method 

 

annual recalculation method 

 

social security benefits tax 

 

IRC Sec. 1035 exchange