Annuity is?
PMS GK Past Papers and Syllabus / All — Multiple-choice practice
- A. A sum of money received on a regular basis as one of a series of fixed payments
- B. A financial product designed to pay out a stream of payments to the holder at a later point in time
- C. Annual payment of dues
- D. Both a and b
Correct answer
Both a and b
Explanation
Explanation An annuity involves regular fixed payments received over time. It is often a financial product purchased from an insurance or financial institution. Annuities are commonly used for retirement income.
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