1. Which of the following is true of the annuities? (Circle all that apply.)
   1. Variable annuities can be used if the buyer of a deferred annuity wants a future monthly income that varies according to the performance of the stock market during the accumulation phase
   2. All else equal, a woman will generally have to pay more than a similarly aged man for a life annuity that produces the same amount of monthly income
   3. Monthly annuity benefits are not subject to income tax
   4. A couple with a joint-and-survivor annuity would continue to receive payments until the second of the couple dies