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1.3.6 Guaranteed Investment Certificates (GICs) questions fully solved & updated 2025.

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Course Virginia Real Estate LicensE
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1.3.6 Guaranteed Investment Certificates (GICs) questions fully solved & updated 2025.

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1.3.6 Guaranteed Investment
Certificates (GICs) questions
fully solved & updated 2025

Why are GICs popular? - answer Easily bought,
guaranteed, no fees


What is guaranteed in a GIC? - answer Return on
principal and rate of maturity


Advantages of a GIC? - answer Guaranteed return
Variety
Can be as little as $500
Convenient / easy
No fees


Disadvantages of a GIC? - answer Low rate of
return
Taxed
Probate fees at death
Interest rate risk
Penalties on access prior to maturity date

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