23. What covers the cost of a variable annuity's death benefit? (Search Chapter 3) a. the contract administrative service charge b. the contingent deferred sales charge c. the contract maintenance charge d. the mortality and expense charge 25. What is the amount of monthly income that each $1,000 of an annuity contract's values will generate, based on a specified interest rate and the annuity payout option? (Search Chapter 4) a. the annuity purchase rate b. the AIR c. always equal to the annuity's total accumulated value divided by the premium invested d. the calculation for the annuity's initial premium deposit 26. Pete invested $50,000 in a variable annuity 15 years ago when he was 52. The contract is now valued at $180,000, and Pete elects to annuitize under a straight life option. The AIR is 5 percent, and the annuity purchase rate is $6.50. What is Pete's initial income payment? (Search Chapter 4) a. $900 b. $1,170 c. $2,500 d. $3,250