Wednesday, May 1, 2024
Deferred Gifts

3.3.4 Basic Quiz -- Gift Annuity Documents
There is one standard gift annuity document that covers both federal requirements and every state's requirements.
     True      False
An annuity contract should include the names of the donor or donors and the charity, with their addresses, cities, states and zip codes.
     True      False
The gift annuity payout and deduction are based on the age or ages of all annuitants.
     True      False
The document's state law is always the state where the charity resides.
     True      False
It is not permissible for the annuitant to assign an annuity payment to anyone other than the issuing charity.
     True      False
With a two-life gift annuity, it is permissible to retain the right to revoke the income stream to the second annuitant.
     True      False
A deferred gift annuity is a bargain sale.
     True      False
The annuitants' birth dates, addresses and Social Security numbers should be included in the annuity document.
     True      False
A donor can reserve the right to change the charitable remainderman in a gift annuity document.
     True      False
It is allowable for a gift annuity contract to state that there will be a last pro-rata payment to the annuitant.
     True      False



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