Quiz Y: Loans, Retirement & Legacy Planning

Credit cards typically charge interest of 24% p.a.

• True

• False

HDB housing loan rate is based on CPF OA rate + 0.1%

• True

• False

After some of your CPF SA/OA have been transferred to your RA when you turn 55, you can withdraw the remaining SA/OA money in cash if you wish to.

• True

• False

You can reserve your OA money before you turn 55 so that it will not be transferred to your RA at 55 and you can continue to use it for your mortgage payment

• True

• False

If you have used your CPF for housing, you can withdraw some of your RA money in cash via a property pledge

• True

• False

You will receive a monthly payment once you start CPF LIFE for as long as you are alive, even if you live until 120 years old

• True

• False

You will always back get the money you used to join CPF LIFE

• True

• False

When you pass away, the Government will take your CPF money

• True

• False

In a Joint Tenancy arrangement, your HDB flat automatically belongs to your spouse when you pass away

• True

• False

CPF Nomination can be done online

• True

• False