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Which of the following is NOT true regarding a deferred annuity? A . It is used to accumulate funds for retirement. B . The annuity

Which of the following is NOT true regarding a deferred annuity?

.

It is used to accumulate funds for retirement.

.

The annuity grows tax deferred.

.

It can be purchased with a single lump sum.

.

Income payments begin within

1

year from the date of purchase.

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