1.The total household income available is $4032. Mortgage payments including taxes, principal, and interest are $1174. In addition, there are condo fees of $150, heating costs of $65 monthly, a student loan payment of $100 and a car lease of $141. What is the total debt service ratio?

A. 40.4 percent

B.36.1 percent

C.35.1 percent

D.38.6 percent

2,Lenders require Canada Mortgage and Housing Corporation insurance on high ratio mortgages. What is the primary purpose of this insurance?

A.Life insurance for the borrowers to make sure they can pay off the house if one of them dies

B.Insurance for the borrower in the event of foreclosure to compensate them for the full price they paid for the home

C.Insurance for the lender to protect their collateral in case the borrower defaults and the home has declined in value

D.Disability insurance for the borrowers to make sure they can pay off the house if one of them can no longer work

3, On average, which is the largest category for claims to homeowner's insurance?

A.Fire and lightning

B.Water damage and freezing

C.Wind and hail

D.Other claims not specified above