Final answer:
Based on the information provided, the annuity owned by Q, with no less than $250 payments quarterly, is a quarterly fixed annuity. This type of annuity offers fixed payments at regular quarterly intervals.
Step-by-step explanation:
The question relates to identifying the type of annuity owned by an individual named Q, based on the information that the payments are no less than $250 quarterly. The correct answer is quarterly fixed annuity, which is a type of annuity where payments are made in fixed amounts at regular intervals—in this case, per quarter.
An immediate fixed annuity would also provide regular payments, but the term 'immediate' suggests that the payments begin as soon as the annuity is purchased. A flexible installment deferred annuity allows for varying payments and the payments start some time in the future, not immediately. An adjustable deferred annuity offers payments that can change based on defined factors and also does not start immediately.
Therefore, given that the payments are fixed and made quarterly, the annuity in question can be identified as a quarterly fixed annuity.