Exam 5: Banking Services and Managing Your Money

Which of the following is a Schedule II chartered bank?

Use of Financial Calculator TI BA II Plus required. The CIBC offers a GIC at 8 percent compounded annually and TD Bank offers the same rate but it is compounded semi-annually. What will be the return in five years on each bank's GIC for a $1000 investment?

Introductory high interest rates paid by financial institutions for new accounts are usually a good deal and you should therefore take advantage of them without question.

Mutual fund investments such as a money market fund are guaranteed by the CDIC.

To get the better rate on an emergency fund investment you should invest in a

List four types of financial institutions that you have made use of or plan to deal with in the future.

Which of the following is a non-depository financial institution?

You are closing the purchase of a new home and your closing costs, including down payment, are $30 500. What form of payment would the lawyer require?

Financial institutions loan funds at

Interest rates charged on credit cards can range from 8 percent to 24 percent.

In general, when an investment is more liquid, the return you will receive will be

Which of the following will not vary at a chartered bank?

Deposits in commercial banks that are members of the CDIC are insured up to a maximum of $50 000 per account.

Non-depository institutions that provide insurance to protect individuals or firms against possible adverse events are called

Debit cards are more likely to be accepted by merchants than a certified cheque.

Mutual fund dealers sell units of a prepackaged collection of investments with varying degrees of risk.