Question
You have$5000 saved which you may need for home repairs at any time in the next few years. If you did need thefunds, you would
You have$5000 saved which you may need for home repairs at any time in the next few years. If you did need thefunds, you would have aweeks' notice to access the funds. Which of the following would likely give you the best return for your$5000?
A threeyear cashable GIC in a TFSA account
B.
A threeyear cashable GIC outside a TFSA
C.
A savings account
D.
A threeyear term deposit in a TFSA account
IfRebecca's mutual fund has a sales charge schedule saying that if the fund is sold within the firstyear, the sales charge is 6 percent and if it is sold in the thirdyear, the sales charge becomes 4.5percent, Rebecca's mutual fund has a
A.
declining redemption schedule.
B.
discountfee.
C.
broker commission.
D.
low load.
Getting the flu vaccine is an example of
A.
transferring risk.
B.
accepting risk.
C.
avoiding risk.
D.
reducing risk.
Which of the following is true about pure nofault insurance?
A.
It is the most cost effective insurance because there are no legal expenses.
B.
No one is deemed to be at fault when an accident occurs.
C.
The dollar value of accident benefits is much lower.
D.
You cannot sue the atfault driver for pain and suffering and economic loss.
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
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