1.Which of the following will increase the total amount of interest paid on a mortgage?

Question options:

A.shorter term B.longer amortization period C.larger down payment D.prepayment of the mortgage

2.Which of the following is the biggest problem facing the bankrupt person?

Question options:

A.the fact that, in addition to fines imposed by a court, the claims of the creditors remain B.the harm done to the person's reputation C.the fees and costs involved D.the difficulty in obtaining a discharge

3.If you take out an insured mortgage, what sort of down payment is usually required?

Question options: A.less than 20% B.at least 40% C.this will depend on the lending institution D.between 25 and 35%

4.If the maximum CPP at age 65 is $1,175 per month, how much will Bob get at age 68 if he defers payment for three years?

Question options: A.$1,255 B.$1,345 C.$1,471 D.$1,544

5.Which of the following correctly illustrates the principle of indemnification?

Question options:

A.Roger's toilet malfunctioned and flooded his house. All his carpets were ruined, so his insurance company offered him the replacement cost of the carpets.

B.Jason was delighted when his insurance company paid him $4,500 for his car, which had been destroyed in an accident. An auto dealer had recently offered him $3,500 for the same car.

C.Lucy lost her ring that had been appraised at $1,500. Her insurance company replaced her ring with one that was almost identical.

D.Sylvia's television was stolen from her apartment. Due to her owning replacement value insurance, the television was replaced with a brand new one of the same model.