Mary paid a single premium of $200,000, to an insurance company and received monthly payments of $5,000, for a fixed time period soon afterward. Mary purchased a(n)... O guaranteed minimum annuity O deferred annuity o installment premium O immediate annuity Which is NOT true regarding IRAs? They are considered defined contribution Anyone who is employed can have an IRA account They are designated to encourage people to save for retirement O They are considered defined benefit Which is NOT true regarding Roth IRAs? Work very similarly to Roth 401(k) O Contributions are made with non-deductible after tax dollars The 2018 max contribution as $6,000 per person O Withdrawals from account are tax free for individuals Which of the following is NOT a reason to invest in mutual funds? They allow investors to obtain the services of a professional They generate higher return than stocks They are very convenient for investors O Achieve diversification in investment holdings Which of the following offers the most diversification for a low income investor? Stocks O Preferred stock O Mutual funds O Bonds