Question 01

If you buy a new home rather than an older home, you will have to pay

Select one: a. deposit for some utilities (phone, electric, etc.). b. real estate commissions. c. fire insurance premiums. d. GST/HST.

Question 02

Which of the following statements is true regarding a review of your credit agency report?

Select one: a. It will reveal deficiencies that you can work on to improve your credit rating. b. It will help determine if there are credit cards you should apply for to improve your credit standing. c. You will not have authority to make corrections, as the information must come from a financial institution. d. It will reveal if you have sufficient income to carry the new debt payments

Question 03

A poor credit history will appear on your credit report for Select one:

a. 5 to 7 years. b. 8 to 15 years. c. 10 to 20 years. d. 3 to 10 years.

Question 04

Why is a conventional mortgage a good idea? Select one:

a. You will not need to purchase life insurance. b. The bank will insure it for you. c. You will not need to purchase life insurance or CMHC insurance. d. You will not need to purchase CMHC insurance.

Question 05

The type of financing that allows you to pay for a purchase directly from your chequing account without writing a cheque is Select one:

a. travel points. b. a debit card. c. a credit card. d. an expense account.