CHRA – Statutory Monetary Benefits Practice Test

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What is the purpose of the Home Development Mutual Fund (RA 9679)?

To provide vocational training for workers

To offer affordable home financing and savings options

The purpose of the Home Development Mutual Fund (RA 9679) is to offer affordable home financing and savings options. This fund was created primarily to support Filipino workers in acquiring and financing their housing needs. It aims to enhance access to housing through a savings program and provide a reliable mechanism for building a homeowner’s equity, while also facilitating financing for housing through loans. By encouraging savings among members and offering a systematic way to afford housing, the fund significantly contributes to improving the lives of its members by addressing one of their basic necessities: shelter. This aligns well with the broader goals of promoting socialized housing and making homeownership attainable for many Filipinos.

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To fund educational scholarships

To facilitate retirement planning

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