QUESTION 29 4 points Saved Ralph is a 70-year-old retired fireman with no dependents. He wants to invest in an annuity that will produce a steady stream of income that begins now and continues throughout his life. He has $175,000 to invest and wants to receive the most income he can every month. Which of the following is the most suitable annuity for Ralph based on his objectives? A fixed income annuity with a 10 year term certain. A variable annuity with a guaranteed death benefit. A longevity annuity. An immediate, single-premium life annuity. Saved QUESTION 30 4 points Chris has a HO-3 policy that provides $300,000 of insurance on his dwelling, which has a current replacement value $500,000. Ignoring any deductible, how much will Chris collect if he suffers a covered loss to the dwelling with a replacement value of $60,000 but an actual cash value of $30,000? $30,000 $45,000 $48,000. $60,000. QUESTION 31 4 points Saved Section Il of the HO-3 policy provides coverage for which of the following: Loss of use. Personal property. Other structures. Medical payments. QUESTION 32 4 points Saved All of the following statements concerning the Social Security system are correct EXCEPT: The Social Security retirement benefit is payable at normal retirement age with reduced benefits available as early as age 59, to anyone who has obtained at least a minimum amount of Social Security benefits. Disability benefit recipients must have a severe physical or mental impairment that is expected to either prevent them from performing "substantial" work for at least a year, or result in death. The family benefit is provided to certain family members of workers eligible for retirement or disability benefits. Survivors benefits apply to those family members listed for family benefits, and may also include the worker's parents if the worker was their primary means of support