You have obtained a 20year, $200,000 mortgage with a quoted rate of5% for your brand new house located in ForestHill, Toronto. You choose to make biweekly payments(i.e. every otherweek). Your payments are$605.90. What will the principal outstanding be after fiveyears? Please round your answer to two decimal places.

A.

$163,119

B.

$166,755

C.

$165,437

D.

$167,822

The best assessment of the performance of your selection of stocks is to compare the returns to

.

the average returns of GICs.

B.

the prime rate set by the Bank of Canada.

C.

the average gains or losses you had in the last five years.

D.

a comparable stock index during the same period.

What is an important difference between an index mutual fund and an exchange traded fund(ETF)?

A.

ETFs have higher MERs.

B.

There are more types of ETFs.

C.

ETFs are better managed.

D.

ETFs trade like stocks.

You want to purchase 100 shares of CIB for a maximum price of$3000 and it is currently trading at$33. Which order should youplace?

A market order to buy 100 shares of CIB at$30

B.

A market order to purchase 100 shares of CIB at$33

C.

A buy stop order to purchase 100 shares of CIB at$30 good until filled

D.

A limit order to buy 100 shares of CIB at$30 good until filled