I am a depository institution, or bank, that is considered a cooperative (with the corresponding tax...

I am a depository institution, or bank, that is considered a cooperative (with the corresponding tax advantages) based upon being associated with a certain entity, such as a corporation or village. Who am I?

	a.	a Commercial Bank
	b.	a Savings and Loan
	c.	an Investment Bank
	d.	a Credit Union
	e.	a Finance Company

Which of the following is not tax deductible in the context of a consumer mortgage loan?

	a.	payment of points involved with the mortgage interest rate
	b.	payments to property taxes
	c.	monthly interest payments on the mortgage loan
	d.	payment of realtor fees

Which of the following characteristics do not pertain to US Savings Bonds?

	a.	EE bonds and I bonds pay the holder an interest payment each year which is part of taxable interest for the year, whether or not the household cashes in the bond.
	b.	They are issued by the federal government.
	c.	Their interest is exempt from State and Local taxes.
	d.	I bonds have an interest rate which is adjusted for inflation.
	e.	EE bonds are typically purchased for less than their face value.

No need for explanation, thank you!

Expert Solution

I am a depository institution, or bank, that is considered a cooperative (with the corresponding tax advantages) based upon being associated with a certain entity, such as a corporation or village. Who am I?
a.	a Commercial Bank	Correct
b.	a Savings and Loan
c.	an Investment Bank
d.	a Credit Union
e.	a Finance Company
Which of the following is not tax deductible in the context of a consumer mortgage loan?
a.	payment of points involved with the mortgage interest rate
b.	payments to property taxes
c.	monthly interest payments on the mortgage loan
d.	payment of realtor fees	Correct
Which of the following characteristics do not pertain to US Savings Bonds?
a.	EE bonds and I bonds pay the holder an interest payment each year which is part of taxable interest for the year, whether or not the household cashes in the bond.	Correct
b.	They are issued by the federal government.
c.	Their interest is exempt from State and Local taxes.
d.	I bonds have an interest rate which is adjusted for inflation.
e.	EE bonds are typically purchased for less than their face value.

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