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Which of the Following Statements Is (Are)true with Regard to a Qualified

question 45

Multiple Choice

Which of the following statements is (are) true with regard to a qualified longevity annuity contract (QLAC) ?
I.A lump sum premium is paid to provide income at some future date.
II.A QLAC can be purchased to address the risk of exhausting retirement income from an employer-sponsored qualified retirement plan.


Definitions:

Training

A program designed to develop or improve skills, knowledge, and competencies, facilitating individuals to perform more effectively in their jobs.

Development

The process of growth, progress, or improvement in skills, knowledge, or organizational practices, often through training or experience.

Lifestyle

The way in which a person or group lives, including patterns of social relations, consumption, entertainment, and dress.

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