Podcast
Questions and Answers
What is the primary focus of Unit 9 in the Canadian Investment Funds Course?
What is the primary focus of Unit 9 in the Canadian Investment Funds Course?
- Tax planning for individuals
- Retirement savings planning (correct)
- Investment strategies for young professionals
- Estate planning for high net worth clients
How long does it take to complete Unit 9 of the Canadian Investment Funds Course?
How long does it take to complete Unit 9 of the Canadian Investment Funds Course?
- 3 hours
- 2 hours and 30 minutes
- 1 hour and 45 minutes (correct)
- 45 minutes
Which lesson in Unit 9 focuses on the different types of government and employer plans?
Which lesson in Unit 9 focuses on the different types of government and employer plans?
- Lesson 4: Locked-In Accounts
- Lesson 1: Government and Employer Plans (correct)
- Lesson 3: Withdrawing from RRSPs
- Lesson 2: Registered Retirement Savings Plans (RRSPs)
What is the key feature of Registered Retirement Savings Plans (RRSPs) discussed in Unit 9?
What is the key feature of Registered Retirement Savings Plans (RRSPs) discussed in Unit 9?
Which type of account is discussed in Lesson 4 of Unit 9?
Which type of account is discussed in Lesson 4 of Unit 9?
What is one of the main responsibilities of a Dealing Representative according to the text?
What is one of the main responsibilities of a Dealing Representative according to the text?
In which lesson of Unit 9 do you become familiar with the rules surrounding contribution limits?
In which lesson of Unit 9 do you become familiar with the rules surrounding contribution limits?
What is the approximate duration to complete Lesson 1 in Unit 9?
What is the approximate duration to complete Lesson 1 in Unit 9?
At what age does normal retirement under the CPP/QPP begin?
At what age does normal retirement under the CPP/QPP begin?
What is the maximum employee/employer contribution towards CPP?
What is the maximum employee/employer contribution towards CPP?
What percentage reduction in CPP amounts is applied if an individual starts collecting their pension at the age of 62?
What percentage reduction in CPP amounts is applied if an individual starts collecting their pension at the age of 62?
What is the monthly pension amount Bill will receive if he qualifies for full CPP and decides to retire early?
What is the monthly pension amount Bill will receive if he qualifies for full CPP and decides to retire early?
What happens to the CPP/QPP pension benefit if an individual chooses to start collecting before age 65?
What happens to the CPP/QPP pension benefit if an individual chooses to start collecting before age 65?
What is the reduction percentage applied to CPP amounts if pension starts at age 64?
What is the reduction percentage applied to CPP amounts if pension starts at age 64?
What are the ages between which an individual can choose to collect CPP/QPP retirement pension benefits?
What are the ages between which an individual can choose to collect CPP/QPP retirement pension benefits?
How is the maximum employee/employer contribution towards CPP calculated?
How is the maximum employee/employer contribution towards CPP calculated?
What is the maximum annual RRSP contribution limit for Mario based on the information provided?
What is the maximum annual RRSP contribution limit for Mario based on the information provided?
Up to what amount can an individual over-contribute to their RRSP without being subject to a penalty tax?
Up to what amount can an individual over-contribute to their RRSP without being subject to a penalty tax?
Until what age can an individual carry forward unused RRSP contribution room?
Until what age can an individual carry forward unused RRSP contribution room?
What is the penalty tax rate for over-contributions to an RRSP above $2,000?
What is the penalty tax rate for over-contributions to an RRSP above $2,000?
How is the maximum annual RRSP contribution limit determined?
How is the maximum annual RRSP contribution limit determined?
What happens if an individual over-contributes to their RRSP by $2,500?
What happens if an individual over-contributes to their RRSP by $2,500?
When must any RRSP withdrawals be reported as income on an individual’s tax return?
When must any RRSP withdrawals be reported as income on an individual’s tax return?
When does the repayment period for an LLP withdrawal begin?
When does the repayment period for an LLP withdrawal begin?
How many calendar years can LLP withdrawals take place over?
How many calendar years can LLP withdrawals take place over?
When should the first repayment after an LLP withdrawal be made?
When should the first repayment after an LLP withdrawal be made?
What happens if annual repayments after an LLP withdrawal are missed or incomplete?
What happens if annual repayments after an LLP withdrawal are missed or incomplete?
What must be done to maintain the tax-free status of withdrawals from the RRSP?
What must be done to maintain the tax-free status of withdrawals from the RRSP?
How are LLP repayment installments calculated?
How are LLP repayment installments calculated?
Keith decides not to make any repayments toward his LLP withdrawal. What will be the tax implications?
Keith decides not to make any repayments toward his LLP withdrawal. What will be the tax implications?
What is the main purpose of LRSPs and LIRAs according to the text?
What is the main purpose of LRSPs and LIRAs according to the text?
By what age must individuals convert their LRSP or LIRA?
By what age must individuals convert their LRSP or LIRA?
What happens if an individual transfers their LRSP or LIRA funds to a Life Income Fund (LIF)?
What happens if an individual transfers their LRSP or LIRA funds to a Life Income Fund (LIF)?
Which option allows individuals to withdraw the entire account balance at any time?
Which option allows individuals to withdraw the entire account balance at any time?
What is the difference between LRSPs and LIRAs according to the text?
What is the difference between LRSPs and LIRAs according to the text?
What provision does the PRIF option have that the other options do not?
What provision does the PRIF option have that the other options do not?
What must individuals primarily consider when choosing among the four LRSP or LIRA options?
What must individuals primarily consider when choosing among the four LRSP or LIRA options?
