The liquidity requirements of a pension fund differ from the liquidity requirements of a life insurance company in that the liquidity requirements of a pension fund:
A) will be dictated by state statutes, whereas the liquidity requirements of a life insurance company will be dictated by federal statute.
B) will be a direct function of the age of employees and the retired-lives portion of participants, whereas the liquidity requirements of a life insurance company will be a function of the liability requirements of products sold.
C) and the liquidity requirements of an insurance company will be dictated by federal statute.
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solution：B
Pension fund liquidity is often dictated by the age of employees and the retired-lives portion of participants. Life insurance companies, on the other hand, will have liquidity requirements that are generated by the differential products sold to policy holders.
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