Question 1.1. (TCO C) Janice Sanders plans on saving $12,000 for 3 years until she returns to college for her master's degree in personal financial planning. She would like to receive a fixed rate of return over that period. Which of the following would you recommend? (Points : 4)

Money market deposit account 1-year certificate of deposit 3-year certificate of deposit Series EE U.S. savings bond B or C

Question 2.2. (TCO C) The more frequently a bank compounds interest, (Points : 4)

the higher the stated interest rate. the lower the stated interest rate. the higher the APY. the lower the APY. A and C

Question 3.3. (TCO C) At the end of your car lease period, you intend to turn in the car, and you will not pay extra at that time based on the residual value of the car. You have _____ lease. (Points : 4)

a residual an open-end a purchase option a closed-end None of these

Question 4.4. (TCO C) In which of the following situations would you have to pay additional money when returning a vehicle using a closed-end lease? (Points : 4)

Residual value is less than expected Residual value is more than expected Mileage limits were exceeded A and C B and C

Question 5.5. (TCO C) A lender will usually require a loan-to-value ratio of _____ or less for you to avoid having to pay private mortgage insurance (PMI). (Points : 4)

75% 80% 85% 90% 95%