n NISM Certifications
XVII NISM Series XVII
Medium

The maximum period for a Reverse Mortgage Loan (RML) is generally 20 years, with borrowers allowed prepayment at any time.

Practice question from NISM Series XVII- Retirement Adviser Mock Test 4 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    30 years

  2. 20 years

    Correct answer

  3. C

    10 years

  4. D

    Life of the borrower

Why this is the answer

RML typically has a tenure limit of 20 years, flexible prepayment options.

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