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Quick Review 5
Select the appropriate answer for each question or enter the answer in the blank provided. When you are done, click the button to submit your answers and find out your score.
1.
How many mortgage products are available with the Scotia
STEP
program?
A.
1
B.
2
C.
3
D.
4
2.
When applying for the
Scotia
STEP
program, which of the following must be mentioned in the application?
A.
The kind of Scotia
STEP
mortgage
B.
The Global Limit
C.
The term and mortgage values associated with each component
D.
All of the above
3.
The Scotia
STEP
program is an excellent way to help customers pay down debt faster than with other mortgage plans.
A.
True
B.
False
4.
What is the maximum GDS and TDS for an uninsured Scotia
STEP
program?
A.
25%
B.
30%
C.
35%
D.
40%
5.
Many Canadians admit that they have not structured their borrowing to pay the lowest amount of interest.
A.
True
B.
False
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