Julia,age 57,purchases an Annuity for $33,600

question 22

Multiple Choice

Julia,age 57,purchases an annuity for $33,600.Julia will receive $400 per month for the rest of her life.The expected return multiple is 20.0.At age 88,the amount that Julia may exclude from income is

• A)$0.
• B)$1,680.
• C)$3,120.
• D)$4,800.

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Definitions:

Counseling Psychologist

A professional who helps individuals, families, and groups improve their well-being, alleviate distress, and resolve crises through psychological methods.

Direct Treatment

A type of medical or psychological intervention that is aimed specifically at addressing the underlying cause of a disease or disorder, rather than just treating the symptoms.

Obsessive-Compulsive Disorder

A mental disorder characterized by unwanted, persistent thoughts (obsessions) and repetitive behaviors (compulsions) that an individual feels driven to perform.

Exposure and Response Prevention

A behavioral therapy technique often used for treating obsessive-compulsive disorder, involving exposure to the source of fear and refraining from the compulsive behavior that typically follows.