Please answer these following questions. Thank you.

Q U E ST I O N 7 The grace period on a credit card means A You have an extra week beyond the due date to make your payment. C If the outstanding balance is paid, in full, on or before the payment due date, then no interest is charged. A Is negotiated separately for each card holder. A Is a special discount offer made to the credit card holder, on an annual basis. 0 U E ST I O N 8 Check all of the following that are additional costs one would expect to arise during the purchase process of a used home with a mortgage. 0 Goods & Services Tax (GST) U Appraisal [j Land/property transfer tax 0 Legal fees 0 Mortgage loan application fee 0 Sewer and wastewater tax QUESTION 9 Which of the following is FALSE regarding high ratio mortgages. A For down payments between 5% and 20%, mortgage insurance is optional. A The maximum amortization allowed is 25 years. A In Canada, there are three providers of mortgage loan insurance, CMHC, Genworth Canada and Canada Guaranty. A The lender will pay the insurance premium for the mortgage loan insurance and typically will recover the amount from the borrower