If you are age 65 and were in a defined-benefit pension plan for 22 years which was based on earning a benefit of 1.8 percent of your best three years earnings, you would receive around 39.6 percent of your salary from your pension.

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True

False

If you were charged the maximum legal rate of interest on a $1000 loan for one year, the interest cost would be $60.

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True

False

If you bought a back-end load mutual fund which had a six-year declining redemption schedule, and held the fund for seven years, you would pay only a minimal load fee.

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True

False