Please answer each of the following questions fully and completely. Please be advised that you will not receive any credit for questions not answered in a substantive manner, with each part of the question answered fully and completely.\ \ 1. What is cash management, and what are its major functions?\ \ \ 2. Give two reasons for holding liquid assets. Identify and briefly describe the popular types of liquid assets.\ \ 3. Explain the effects that historically low interest rates have on borrowers, lenders, savers, and retirees.\ \ 4. Briefly describe the basic operations ofand the products and services offered byeach of the following financial institutions: (a) commercial bank, (b) savings and loan association, (c) savings bank, (d) credit union, (e) stock brokerage firm, and (f) mutual fund.\ \ 5. What role does the FDIC play in insuring financial institutions? What other federal insurance program exists? Explain.\ \ 6. Define and discuss (a) demand deposits, (b) time deposits, (c) interest-paying checking accounts.\ \ 7. What are your legal rights and responsibilities when using EFTSs?\ \ 8. What are the key factors to consider when opening a checking account? Discuss the advantages and disadvantages of individual versus joint accounts.\ \ 9. Describe the procedure used to stop payment on a check. Why might you wish to initiate this process?\ \ 10. In general, how much of your annual income should you save in the form of liquid reserves? What portion of your investment portfolio should you keep in savings and other short-term investment vehicles? Explain.\ \ 11. Briefly discuss how each of these purchase considerations would affect your choice of a car: (a) affordability, (b) operating costs, (c) gas, diesel, hybrid, or electric, (d) new, used, or nearly new, (e) size, body style, and features, (f) reliability and warranty protection.\ \ 12. What are the advantages and disadvantages of leasing a car?\ \ 13. In addition to single-family homes, what other forms of housing are available in the United States? Briefly describe each of them.\ \ 14. Why is it important to have a written lease? What should a rental contract include?\ \ 15. Briefly describe the various benefits of owning a home. Which one is most important to you? Which is least important?\ \ 16. What are the most common guidelines used to determine the monthly mortgage payment one can afford?\ \ 17. Why is it advisable for the prospective home buyer to investigate property taxes?\ \ 18. What role does a real estate agent play in the purchase of a house? What is the benefit of the MLS? How is the real estate agent compensated, and by whom?\ \ 19. Why should you investigate mortgage loans and prequalify for a mortgage early in the home-buying process?\ \ 20. What information is normally included in a real estate sales contract? What is an earnest money deposit? What is