Face-amount certificate company | Wikipedia audio article
Channel: wikipedia tts
Date: 23/01/2019

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/Face-amount_certificate_company


00:01:24 See also
00:01:38 Notes



Listening is a more natural way of learning, when compared to reading. Written language only began at around 3200 BC, but spoken language has existed long ago.

Learning by listening is a great way to:
- increases imagination and understanding
- improves your listening skills
- improves your own spoken accent
- learn while on the move
- reduce eye strain

Now learn the vast amount of general knowledge available on Wikipedia through audio (audio article). You could even learn subconsciously by playing the audio while you are sleeping! If you are planning to listen a lot, you could try using a bone conduction headphone, or a standard speaker instead of an earphone.

Listen on Google Assistant through Extra Audio:
https://assistant.google.com/services/invoke/uid/0000001a130b3f91
Other Wikipedia audio articles at:
https://www.youtube.com/results?search_query=wikipedia+tts
Upload your own Wikipedia articles through:
https://github.com/nodef/wikipedia-tts
Speaking Rate: 0.9197122044980804
Voice name: en-AU-Wavenet-A


"I cannot teach anybody anything, I can only make them think."
- Socrates


SUMMARY
=======
A face-amount certificate company is an investment company which offers an investment certificate as defined by the Investment Company Act of 1940.  In general, these companies issue fixed income debt securities that obligate the issuer to pay a fixed sum at a future date.  They are generally sold on an installment basis.A face-amount certificate (FAC) is a contract between an investor and an issuer in which the issuer guarantees payment of a stated (face amount) sum to the investor at some set date in the future.  In return for this future payment, the investor agrees to pay the issuer a set amount of money either as a lump sum or in periodic installments. If the investor pays for the certificate in a lump sum, the investment is known as a fully  paid face amount certificate.
Issuers of these investments are face-amount certificate companies.  Very few face-amount certificate companies operate today because tax law changes have eliminated their tax advantages.  The most notable financial services companies in the face-amount certificate business today are Ameriprise Financial and SBM Financial Group.
Along with FAC, other company types that fall under the scope of the Investment Company Act of 1940 are Unit Investment Trusts and Management Companies.