Most Pension Plans Are Now Viewed as Providing Deferred Income

question 31

Multiple Choice

Most pension plans are now viewed as providing deferred income that employees accumulate during their working life and that belongs to them after a specified number of years of service. What view is this based on?

• A) provincial law
• B) a pay-as-you-go philosophy
• C) a reward philosophy
• D) an earnings philosophy

Recognize specific industry practices related to distribution and marketing channel strategies such as in pharmaceuticals.

Understand the various types of distribution channels and their characteristics.

Recognize the strategic importance of multichannel marketing strategies.

Identify and differentiate between vertical and horizontal marketing systems.

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Definitions:

Prevailing Interest Rates

are the current rates of interest which banks and other financial institutions charge on loans and pay on deposits.

Second Mortgages

A type of mortgage taken out on a property that is already mortgaged, generally used to access home equity.

First Mortgages

A primary lien against real property that takes precedence over all other mortgages or liens, except for statutory liens.

Assumes the Mortgage

Refers to when a person takes over the obligations of a mortgage from the original borrower under the terms of the original loan.