What Type of Annuity Is Generally Purchased by People of Retirement

question 163

Multiple Choice

What type of annuity is generally purchased by people of retirement age?

• A)Deferred annuity
• B)Immediate annuity
• C)Single-premium deferred annuity
• D)Flexible-premium deferred annuity
• E)Keogh annuity

---

Definitions:

Administrative Expense

Costs related to the general operation of a business that cannot be directly linked to any specific business activity, product, or service.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels of a company, allowing for more accurate budgeting.

Materials

Basic elements or substances used in the production or manufacturing of goods.

Spending Variance

The difference between the actual amount spent and the budgeted or planned amount in a given period.