Which One of the Following Is Not a Characteristic of Employee

question 30

Multiple Choice

Which one of the following is not a characteristic of employee owned annuities? (Employee-Owned Annuities)

• A)Offers financial security
• B)Third party vendors are involved
• C)Employee pays the cost of the annuity
• D)Not subject to ERISA provisions

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Definitions:

Mortgage

A loan secured by real property, typically a residential property, where the borrower is obliged to pay back with a predetermined set of payments.

Loan Balance

The amount of money that remains to be paid back on a loan at any given time, excluding future interest.

Compounded Semi-Annually

The process where interest is calculated and added to the principal sum of an investment or loan twice a year.

Loan Payment

The amount paid periodically to the lender of a loan, which includes both principal and interest.