Q 1. The most favourable car financing is obtained from

Select one:

a. manufacturer's financing from car dealers.

b. getting quotes from various sources.

c. credit unions.

d. commercial banks.

Question 2

What is the best advice regarding a mortgage financing?

Select one:

a. Select the maximum payments you can afford based on your cash flow.

b. Ensure the mortgage payments do not absorb all your excess income.

c. Get a pre-approval certificate to guarantee your mortgage approval.

d. Let an expert choose the type and length of mortgage you will need.

Question 3

A 15-year mortgage compared to a 30-year mortgage has

Select one:

a. higher interest costs.

b. higher interest rates.

c. lower interest rates.

d. a faster buildup of equity.

Question 4

An amortization schedule shows all but the

Select one:

a. principal portion of the payment.

b. interest portion of the payment.

c. increase in equity.

d. beginning and ending balances.

Question 5

The risk management method that is not recommended is

Select one:

a. sharing risks.

b. ignoring risks.

c. avoiding risks.

d. accepting risks.