Which of the Following Statements Is CORRECT

question 47

Multiple Choice

Which of the following statements is CORRECT?

• A) 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.
• B) The cash flows for an ordinary (or deferred) annuity all occur at the beginning of the periods.
• C) If a series of unequal cash flows occurs at regular intervals, such as once a year, then the series is by definition an annuity.
• D) The cash flows for an annuity due must all occur at the ends of the periods.
• E) The cash flows for an annuity must all be equal, and they must occur at regular intervals, such as once a year or once a month.

---

Definitions:

Prior to Marriage

The period or conditions that exist before the legal union of two individuals as partners in a personal relationship.

Tenancy at Sufferance

A legal situation where a tenant continues to occupy a property after the expiration of a lease, without the landlord's express permission.

Fails to Vacate

Refers to the situation where an individual or entity does not leave a property as legally required, often violating a lease or notice.

Joint Tenancy

A form of co-ownership where parties own property equally with the right of survivorship, meaning that upon the death of one, the property entirely passes to the surviving owner(s).