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Insurance Licensing Virginia Life, Annuities, and Health Insurance Examination Series 11-01 Virginia-Life-Annuities-and-Health-Insurance Question # 12 Topic 2 Discussion

Insurance Licensing Virginia Life, Annuities, and Health Insurance Examination Series 11-01 Virginia-Life-Annuities-and-Health-Insurance Question # 12 Topic 2 Discussion

Virginia-Life-Annuities-and-Health-Insurance Exam Topic 2 Question 12 Discussion:
Question #: 12
Topic #: 2

All of the following statements about tax-sheltered annuities (TSAs) are true EXCEPT:


A.

Only employees of certain tax-exempt organizations may participate


B.

The employee is normally the applicant, owner, and annuitant under the contract


C.

The employee issues periodic personal checks to purchase the contract


D.

An employee’s rights under the contract are nonforfeitable


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