If you have

$10 comma 00010,000

that you do not expect to need for expenses in the next few years and you wish to put it somewhere so that it will earn a return, which of the following financial institutions would be an option for your deposit?

A.

A credit union

B.

A bank

C.

A mutual fund company

D.

Any of the above

In planning a money management strategy, which of the following is most important?

A.

Select a combination of investments with varying risk and return.

B.

Shop around to find the institution paying the highest interest rates on GICs.

C.

Select a combination of investments to achieve both adequate liquidity and return.

D.

Ensure all short-term investments are fully liquid.

Regarding TFSA accounts, which of the following is true?

A.

Using a TFSA account to hold a cashable GIC for an emergency will mean you do not have to pay tax on the interest earned.

B.

Using your TFSA for tuition savings makes sense as long as the funds are replaced before the next term.

C.

Using a TFSA account for your everyday banking would be a good way to avoid paying tax on the interest from your bank account.

D.

If your TFSA investment deposit grows from $5000 to

$10 comma 00010,000

you can withdraw only the $5000 deposit tax free.