CE Credit Assessment

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Welcome to the post-video assessment for your continuing education credits. This brief questionnaire is designed to evaluate your understanding of the key concepts and information presented in the video. Completing this form is essential to receive your continuing education credits.Please answer each question thoughtfully and accurately to the best of your ability. Your responses will be reviewed, and upon successful completion, your continuing education credits will be awarded. Thank you for your commitment to ongoing learning and professional development.

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Quiz Questions

What are the primary eligibility requirements for a homeowner to qualify for an FHA HECM Reverse Mortgage? *

1 point

The homeowner must be at least 50 years old, own the property outright, and have no federal debt.

The homeowner must be at least 62 years old, own the property outright or have a significant equity, and the property must be their primary residence.

The homeowner must have a high credit score, be under 60 years old, and the property must be a multi-family dwelling.

How does the FHA HECM Reverse Mortgage program determine the amount of money a borrower can receive? *

1 point

Based on the borrower's income and credit history.

Based on the borrower's age, current interest rates, and the lesser of the appraised value of the home, sale price, or FHA mortgage limit.

Based on the equity of the home and the borrower's age alone.

Can you explain the differences between the payment options available in the FHA HECM Reverse Mortgage program, such as lump sum, tenure, term, line of credit, and modified tenure? *

1 point

Lump sum offers a single payment, tenure provides monthly payments for life, term offers payments for a fixed period, line of credit allows funds to be drawn as needed, and modified tenure combines line of credit with monthly payments.

All options provide equal payments, but differ only in the duration for which they are paid.

Lump sum and term options are interest-free, while tenure, line of credit, and modified tenure include interest charges.

I hereby certify that I have fully watched the webinar in its entirety and have answered all questions in the assessment to the best of my ability. I understand that providing false information may result in the forfeiture of my continuing education credits and may have further implications according to the policies of the accrediting organization. *

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