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27. Frank owns a variable annuity. The option to transfer funds from among his contract's
subaccounts results in a takable event. a. cannot be done until Frank annuirizes the contract. is
typically fimited to five transfers a year. d. can be done at any time Frank wishes. 28. By
investing in a variable annuity, Ryan is provided with all of the following EXCEPT: tax deferral
asset allocation an investment free from risk a Euaranteod death benefit

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