Under a Federal Direct Loan, you don't begin making payments until six months after graduation

Which of the following has contributed to the emergence of a large Eurocurrency market?

A) lower interest rates on Eurocurrency loans B) regulations of home-country banking systems C) loans repaid interest-free at face value D) low interest rates on Eurocurrency deposits

During the 2007-2009 financial crisis, housing prices began to fall and subprime mortgages began to default. Which of the following statements is true about the rating of subprime mortgage products?

A) The rating agencies were way ahead of the market, giving many of the subprime products junk ratings from the start. B) Rating agencies were not involved. Subprime mortgages could not be structured, by law. C) Many AAA-rated subprime products had to be downgraded over and over again until they reached junk status. D) None of the above are true.