Which Type of Annuity Will Continue for at Least a Minimum

question 22

Multiple Choice

Which type of annuity will continue for at least a minimum guaranteed period even if the annuitant dies?

• A) Fixed
• B) Lifetime annuity
• C) Joint and survivor
• D) Joint and survivor period certain
• E) Installment life

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Definitions:

Transaction Price

The amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer.

Principal/Agent

A relationship in which one party (the agent) is authorized to act on behalf of another party (the principal) in conducting transactions.

Commission

A fee paid to an agent or employee for facilitating a sale or service, typically a percentage of the sale price.

Net Basis

A method of quoting or reporting prices without including the costs of taxes, delivery, and other ancillary charges.