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Question 9

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9. An annuity that pays income at some future date in a lump sum or as income

under a payment option is a:

	1. Flexible-premium annuity.
	2. Fixed annuity.
	3. Deferred annuity.
	4. Variable annuity.

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Question 10

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10. The process of financial planning requires five steps. The first step is:

	1. Analyze the present financial situation.
	2. Gather important financial information.
	3. Identify outstanding liabilities and debts.
	4. Determine specific goals and objectives.