Which of the Following Statements Is True About Annuities

question 64

Multiple Choice

Which of the following statements is true about annuities?

• A)They can guarantee an income for life.
• B)They must be held in a registered account.
• C)They have high fees deducted on a monthly basis.
• D)They are an expensive type of insurance.

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Definitions:

Area

The extent or measurement of a surface or piece of land.

Standard Normal Random Variable

A type of random variable with a mean of 0 and a standard deviation of 1, used in Z-tests.

Standard Deviation

A measure of the dispersion or variability of a set of values, indicating how much they deviate from the mean.

Value

The worth, importance, or usefulness of something, often measured in terms of money, utility, or general significance.