Betsy tells you some of the atributes of her annuity, but from what she has said so far you can't tell whether it is fixed, equity$-$indexed or variable. All annuities have certain common atrributes regardless of whether they are fixed, equity$-$indexed, or variable. One of the common attributes includes limited liquidity resulting from all of the following issues EXCEPT: Answers Surrender charges or "vesting" provisions Interest$-$first tax treatment of withdrawals Premature distribution tax penalties Income treated as ordinary income