Victoria feels it is time to see a financial planner because she is nearing retirement and has little knowledge of what to do with her RRSPs and RRIFs. Victoria's financial planner is explaining the advantages and disadvantages of using a RRIF compared to a straight life annuity. All of the following statements are true, EXCEPT: Question 14 options: a) With the annuity, the investment risk lies with the annuitant. With a RRIF, the investment risk lies with the policy provider. b) Unlike the annuity, which has pre-established payment amounts, withdrawals from a RRIF can vary depending on the cash flow needs of the annuitant. c) The annuity is only paid during