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Portfolio Income Annuities $($PIA$)$ Assessment

Question $1$

Which of the following statements is true of dividends with a Portfolio Income Annuity $($PIA$)?$

I. May be taken in cash, used to increase guaranteed income, or a combination of the two.

II$.$ Are never guaranteed.

III. The dividend interest rate $($DIR$)$ is the same for the tax qualified and non$-$tax qualified markets.

IV$.$ If paid, dividends may be structured to provide a specific dollar amount paid in cash with the remaining used towards purchasing additional guaranteed income.

I and III only

I, III and IV only

II$,$ III and IV only

$$ I, II$,$ III and IV