Thursday, April 25, 2024
Deferred Gifts

3.3.1 Basic Quiz -- American Council on Gift Annuities
If a charity issues charitable gift annuities, it must join the American Council on Gift Annuities.
     True      False
The American Council on Gift Annuities establishes gift annuity rates that charities must follow when writing gift annuities for their organization.
     True      False
The American Council on Gift Annuities changes the gift annuity rates every year on July first.
     True      False
If the American Council on Gift Annuities decides it needs to adjust gift annuity rates, it can only do so on July first of each year.
     True      False
The American Council on Gift Annuities takes into account several factors when deciding the gift annuity rates, such as the amount charities are likely to earn in their reserve accounts and the costs of administering charitable gift annuities.
     True      False
Suggested gift annuity payout rates are available only for one-life gift annuities and two-life gift annuities.
     True      False
In addition to providing suggested gift annuity payout rates, the American Council on Gift Annuities also provides education and training about charitable gift annuities to charitable organizations.
     True      False
When calculating its rate schedule, the ACGA assumes a 1% administration cost to the charity.
     True      False
The gift annuity rates set by the American Council on Gift Annuities assume that the charity will receive approximately 50% of the amount transferred to fund the gift annuity.
     True      False
The highest payout rate for a current (immediate) gift annuity recommended by the American Council on Gift Annuities is 8.5%.
     True      False



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