Raymond feels that he is wealthy because he has $10,000 cash in the bank, two expensive cars worth about $100,000, and a house worth $1 million. However, he also carries a $25,000 credit card liability and has a $40,000 bank loan due within six months. What financial problem does Raymond have?

a.

Liquidity ratio is too low.

b.

Fixed assets are too high.

c.

Current ratio is too low.

d.

Total net worth is too low.

If an investor was concerned about the tax efficiency of their mutual fund, which type of mutual funds should they buy?

a.

Open-end mutual funds

b.

Close-end mutual funds

c.

Front-end load mutual funds

d.

Back-end load mutual funds