n NISM Certifications
X NISM Series X
Medium

What is the minimum residual life of a property to be eligible for reverse mortgage?

Practice question from NISM Series XB- Investment Adviser (Level 2) Mock Test 2 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    5 years

  2. B

    10 years

  3. 20 years

    Correct answer

  4. D

    25 years

Why this is the answer

Properties with at least 20 years of residual life are eligible for reverse mortgage schemes.

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