One Type of Deferred Annuity Allows the Purchaser to Invest

question 46

Multiple Choice

One type of deferred annuity allows the purchaser to invest a lump sum for a specified time period.The interest rate paid on the deposit is typically higher than the rate of return paid on certificates of deposit offered by banks.This type of deferred annuity is a(n)

• A)longevity annuity.
• B)multi-year guaranteed annuity (MYGA).
• C)installment refund annuity.
• D)qualified longevity annuity contract (QLAC).

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Definitions:

Specific Industry

A distinct sector of the economy focused on a particular category of products or services.

Ratification

The formal approval of an agreement or act, making it officially valid.

International Agreements

Treaties or accords between countries that govern their mutual relations and commitments.

Senate

The Senate is one of the two chambers of the United States Congress, responsible for making and passing federal laws, consisting of two senators from each state.