Statements about reverse mortgages

Assignment Help Financial Management

Reference no: EM132034573

1. People often take money they have accumulated during their working years and buy an annuity. All of the following are variations that are possible with an annuity EXCEPT:

Withdrawals can be immediate or deferred

Taxes are typically paid each year on the account balance

Contributions can be one large payment or installments over time

The amount of money received each year can be fixed or variable

Annuities can be purchased that may a death benefit if the annuitant dies

2. In the world of retirement money, the technical phrase for a shift of money from an employer-sponsored retirement plan to a personal retirement plan is:

Carry forward

Withdrawal

Rollover

Amortization

Down payment

3. Which of the following statements about reverse mortgages is NOT correct:

They can provide regular payments until a homeowner dies

Potential users are required to take a counselling course

Home owners are responsible for property taxes and home insurance

They are federally insured

Anyone is eligible for one if they have enough equity in their home

Reference no: EM132034573

Questions Cloud

What is the ethical issue that maria faces : Who benefits/loses if she decides to do as Hans says? What would you do if you were in her shoes? What does this decision reveal about you?

Gdp per capita and greenhouse gas emissions per capita : The economist sees your analysis of the relationship between GDP per capita and greenhouse gas emissions per capita. She asks you to explore alternative

Prefer establishing wholly owned subsidiaries : Why do firms pursuing global standardization or transnational strategies tend to prefer establishing wholly owned subsidiaries?

What other hurdles might the administration put in place : Is it so large that it will throw Metronic off its current growth trajectory? What other hurdles might the administration put in place?

Statements about reverse mortgages : Which of the following statements about reverse mortgages is NOT correct:

How the global societal issue impacts a specific population : Provide a clear and concise thesis statement that includes a solution to the global societal issue (see Writing a Thesis Statement for assistance).

Discuss the impact of external societal factors on juveniles : Briefly discuss the impact of external societal factors on a juvenile's decision to participate in delinquency.

Makes electronic entertainment systems : Bunkhouse Electronics is a recently incorporated firm that makes electronic entertainment systems.

What is the required rate of return on okefenokee stock : What is the required rate of return on Okefenokee stock? Estimate the discount rate for an expansion of the company’s present business.

User Account

All Pages