Which of the Following Statements Is CORRECT

question 99

Multiple Choice

Which of the following statements is CORRECT?

• A) The cash flows for an ordinary (or deferred)annuity all occur at the beginning of the periods.
• B) If a series of unequal cash flows occurs at regular intervals,such as once a year,then the series is by definition an annuity.
• C) The cash flows for an annuity due must all occur at the beginning of the periods.
• D) The cash flows for an annuity may vary from period to period,but they must occur at regular intervals,such as once a year or once a month.
• E) If some cash flows occur at the beginning of the periods while others occur at the ends,then we have what the textbook defines as a variable annuity.

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Definitions:

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