Which of the Following Statements Is CORRECT

question 101

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.

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