QUESTION 33 MORTGAGE MARKET. Which of the following shareholder-owned corporations created by Congress is charged with the task of providing a secondary market for FHA and VA and, since 1970, also conventional mortgages?

A. Ginnie Mae

B. Fannie Mae

C. Freddie Mac

D. CMOs

E. All of the above.

QUESTION 34 MORTGAGE MARKET. You wish to buy a home worth $250,000. You take out a 10-year mortgage with a 20% down payment. Your mortgage rate is 8%. How much is your monthly payment?

A. $2,426.55

B. $1,667.01

C. $2,483.82

D. $1,747.00

E. None of the above

QUESTION 35 MORTGAGE MARKET. With regard to the above problem, how much is your interest payment in the first month?

A. $133,333.33

B. $11,520.00

C. $1,333.33

D. None of the above

QUESTION 22 FOREX MARKETS. Which of the following transactions represents a CREDIT item on the balance of payments? [I] Boeing sells new jet planes to Air Canada. [II] Six Flags has recently made the decision to build a theme park in Cape Town. [III] Maria Estes sent a check last month to a friend living in Panama as gift. [IV] Isabella Jones has just received a dividend check for a stock she holds in British Airways.

A. II and III

B. I and II

C. I and IV

D. II and IV

QUESTION 23 FOREX MARKETS. If $1.45 will buy one British pound sterling, how much British pounds do you need to buy $105 million U.S. dollars?

A. 72,413,793.10

B. 105,000,000.00

C. 55,696,202.53

D. 152,250,000.00

E. not enough information is given to determine the exchange rate