Tax sheltered variable annuity is / » Security Analysis and Investment Management solved MCQs / By admin Question: Tax sheltered variable annuity is A. A device for availing tax exemption in an Investment B. A device for avoiding tax payment C. A device deferring the payment of federal income taxes D. A device for earning tax deduction. Answer» d. A device for earning tax deduction. Note: The above multiple-choice question is for all general and Competitive Exams in India.