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Questions and Answers
What is the minimum purchase requirement for premium funds when making single lump-sum purchases according to the text?
What is the minimum purchase requirement for premium funds when making single lump-sum purchases according to the text?
- $10,000
- $5,000
- $500 (correct)
- $1,000
In regular investment plans, what is the minimum amount that additional contributions can often be made for?
In regular investment plans, what is the minimum amount that additional contributions can often be made for?
- $50
- $25 (correct)
- $100
- $10
What is the frequency at which an investor can usually make contributions under a voluntary accumulation plan?
What is the frequency at which an investor can usually make contributions under a voluntary accumulation plan?
- Quarterly
- Weekly (correct)
- Bi-weekly
- Daily
What type of plans try to make contributing as easy as possible through preauthorized payments from bank accounts?
What type of plans try to make contributing as easy as possible through preauthorized payments from bank accounts?
What are acquisition charges deducted at the time of under voluntary accumulation plans commonly known as?
What are acquisition charges deducted at the time of under voluntary accumulation plans commonly known as?
What is the main difference between single lump-sum purchases and regular investment plans in terms of payment frequency?
What is the main difference between single lump-sum purchases and regular investment plans in terms of payment frequency?
When Julie calls the Dealing Representative, what time is it?
When Julie calls the Dealing Representative, what time is it?
How many units of the Delta Equity Mutual Fund can Julie purchase with $2,400?
How many units of the Delta Equity Mutual Fund can Julie purchase with $2,400?
When must Julie have the funds available to pay for the units?
When must Julie have the funds available to pay for the units?
Why must funds be available before the transaction is processed?
Why must funds be available before the transaction is processed?
Where are mutual funds available for purchase?
Where are mutual funds available for purchase?
What should the fund prospectus and Fund Facts describe regarding purchasing mutual fund units?
What should the fund prospectus and Fund Facts describe regarding purchasing mutual fund units?
When is the purchase price for mutual funds determined?
When is the purchase price for mutual funds determined?
What is the primary responsibility of a portfolio manager?
What is the primary responsibility of a portfolio manager?
What role does the custodian play in relation to a mutual fund?
What role does the custodian play in relation to a mutual fund?
How are portfolio managers guided in their decision-making process?
How are portfolio managers guided in their decision-making process?
Why must custodial functions of a mutual fund be kept separate from those of the investment fund management company?
Why must custodial functions of a mutual fund be kept separate from those of the investment fund management company?
What is a key difference between a portfolio manager and a custodian in managing a mutual fund?
What is a key difference between a portfolio manager and a custodian in managing a mutual fund?
In what document is the name of the portfolio manager for a mutual fund disclosed?
In what document is the name of the portfolio manager for a mutual fund disclosed?
Which entity holds the income earned by a mutual fund until it is reinvested or distributed to investors?
Which entity holds the income earned by a mutual fund until it is reinvested or distributed to investors?
What is the ultimate goal of all portfolio managers regarding a mutual fund's performance?
What is the ultimate goal of all portfolio managers regarding a mutual fund's performance?
What percentage of the management expense ratio is typically represented by trailer fees for load paying equity funds?
What percentage of the management expense ratio is typically represented by trailer fees for load paying equity funds?
Who are trailer fees designed to incentivize?
Who are trailer fees designed to incentivize?
What is the purpose of trailer fees in relation to mutual fund clients?
What is the purpose of trailer fees in relation to mutual fund clients?
Where do trailer fees come from within a mutual fund company?
Where do trailer fees come from within a mutual fund company?
How long can a dealer receive a trailer fee?
How long can a dealer receive a trailer fee?
What is the basis for determining the size of a trailer fee?
What is the basis for determining the size of a trailer fee?
What is the main function of trailer fees for dealers and representatives?
What is the main function of trailer fees for dealers and representatives?
What was the annual return in the first year for Raj's investment portfolio?
What was the annual return in the first year for Raj's investment portfolio?
What was the year-end balance in the fourth year for Kiran's investment portfolio?
What was the year-end balance in the fourth year for Kiran's investment portfolio?
Which investor was unable to withdraw $20,000 during the last year of their 5-year investment horizon?
Which investor was unable to withdraw $20,000 during the last year of their 5-year investment horizon?
What did the switch from Series T8 to Series T6 involve for an investor?
What did the switch from Series T8 to Series T6 involve for an investor?
What was the percentage change in the portfolio value from Year 2 to Year 3 for Raj?
What was the percentage change in the portfolio value from Year 2 to Year 3 for Raj?
How did Raj's and Kiran's investment portfolios differ in terms of their ending balances after 5 years?
How did Raj's and Kiran's investment portfolios differ in terms of their ending balances after 5 years?
What did the negative returns in Kiran's first year of retirement result in?
What did the negative returns in Kiran's first year of retirement result in?
Why was Raj able to withdraw $20,000 per year despite experiencing negative returns later on?
Why was Raj able to withdraw $20,000 per year despite experiencing negative returns later on?
What type of pension plan is characterized by retirement benefits determined by a fixed formula usually based on salary and years of service?
What type of pension plan is characterized by retirement benefits determined by a fixed formula usually based on salary and years of service?
Which party is responsible for funding the registered pension plan?
Which party is responsible for funding the registered pension plan?
What is a key advantage of registered pension plans in terms of tax treatment for investment earnings?
What is a key advantage of registered pension plans in terms of tax treatment for investment earnings?
Which entity administers the Income Tax Act's registration requirements for registered pension plans in Canada?
Which entity administers the Income Tax Act's registration requirements for registered pension plans in Canada?
What feature of registered pension plans ensures that employees cannot lose their pension benefits if they declare bankruptcy?
What feature of registered pension plans ensures that employees cannot lose their pension benefits if they declare bankruptcy?
Which type of employer-sponsored plan is known for having retirement benefits that vary based on investment performance?
Which type of employer-sponsored plan is known for having retirement benefits that vary based on investment performance?
What role might unions play in the sponsorship of pension plans according to the text?
What role might unions play in the sponsorship of pension plans according to the text?
How are retirement benefits from registered pension plans taxed when employees start to withdraw money?
How are retirement benefits from registered pension plans taxed when employees start to withdraw money?
What is a key focus in Lesson 3 of the Retirement unit?
What is a key focus in Lesson 3 of the Retirement unit?
Why is it important for a Dealing Representative to understand government and employer plans?
Why is it important for a Dealing Representative to understand government and employer plans?
What type of accounts are covered in Lesson 4 of the Retirement unit?
What type of accounts are covered in Lesson 4 of the Retirement unit?
In Lesson 2 of the Retirement unit, what is the main topic of discussion?
In Lesson 2 of the Retirement unit, what is the main topic of discussion?
What aspect of retirement planning is most emphasized in the Retirement unit?
What aspect of retirement planning is most emphasized in the Retirement unit?
What is a critical concept a Dealing Representative should grasp regarding retirement savings planning?
What is a critical concept a Dealing Representative should grasp regarding retirement savings planning?
What is the primary goal of Lesson 1 in the Retirement unit?
What is the primary goal of Lesson 1 in the Retirement unit?
What fundamental knowledge does Lesson 3 aim to impart in the Retirement unit?
What fundamental knowledge does Lesson 3 aim to impart in the Retirement unit?
If Miguel switches to investing in a Registered Retirement Savings Plan (RRSP) like Priscilla, what will be the impact on his tax obligations?
If Miguel switches to investing in a Registered Retirement Savings Plan (RRSP) like Priscilla, what will be the impact on his tax obligations?
What aspect of Priscilla's investment strategy allows her to accumulate a greater amount over time compared to Miguel?
What aspect of Priscilla's investment strategy allows her to accumulate a greater amount over time compared to Miguel?
How does Priscilla's investment strategy differ from Miguel's in terms of taxation during the investment period?
How does Priscilla's investment strategy differ from Miguel's in terms of taxation during the investment period?
What effect does the compounding of investment growth have on Priscilla's overall returns?
What effect does the compounding of investment growth have on Priscilla's overall returns?
Which factor contributes significantly to the difference in the final savings amount between Priscilla and Miguel?
Which factor contributes significantly to the difference in the final savings amount between Priscilla and Miguel?
What is the primary advantage of Priscilla's Registered Retirement Savings Plan (RRSP) account compared to Miguel's non-registered account?
What is the primary advantage of Priscilla's Registered Retirement Savings Plan (RRSP) account compared to Miguel's non-registered account?
If Miguel decides to switch to a Tax-Free Savings Account (TFSA) instead of an RRSP, what would likely happen to his long-term savings compared to investing in a non-registered account?
If Miguel decides to switch to a Tax-Free Savings Account (TFSA) instead of an RRSP, what would likely happen to his long-term savings compared to investing in a non-registered account?
What significant advantage does Priscilla gain by contributing to an RRSP instead of a non-registered account?
What significant advantage does Priscilla gain by contributing to an RRSP instead of a non-registered account?
What is Sue's minimum RRIF withdrawal for the year if her RRIF assets had a market value of $200,000 and she was 85 years old?
What is Sue's minimum RRIF withdrawal for the year if her RRIF assets had a market value of $200,000 and she was 85 years old?
If an individual is 80 years old and has a $250,000 RRIF, what would be the minimum RRIF withdrawal amount?
If an individual is 80 years old and has a $250,000 RRIF, what would be the minimum RRIF withdrawal amount?
At what age do the Non-Qualified RRIF Factor and Qualified RRIF Factor values become equal?
At what age do the Non-Qualified RRIF Factor and Qualified RRIF Factor values become equal?
In which type of annuity or RRIF do you have control over your investment options?
In which type of annuity or RRIF do you have control over your investment options?
If a 73-year-old has a $180,000 RRIF, what is the minimum withdrawal amount?
If a 73-year-old has a $180,000 RRIF, what is the minimum withdrawal amount?
At what age does the Non-Qualified RRIF Factor reach its peak value?
At what age does the Non-Qualified RRIF Factor reach its peak value?
What is the primary purpose of LRSPs and LIRAs compared to RRSPs?
What is the primary purpose of LRSPs and LIRAs compared to RRSPs?
What does vesting refer to in relation to a registered pension plan?
What does vesting refer to in relation to a registered pension plan?
What can an employee under the age of 55 do with pension benefits if they switch employers?
What can an employee under the age of 55 do with pension benefits if they switch employers?
What does the term 'vesting' specifically refer to in the context of pension plans?
What does the term 'vesting' specifically refer to in the context of pension plans?
What are the main limitations of LRSPs and LIRAs compared to RRSPs?
What are the main limitations of LRSPs and LIRAs compared to RRSPs?
What is the significance of an employee's length of service regarding employer deposits?
What is the significance of an employee's length of service regarding employer deposits?
What is a key feature that distinguishes LRSPs and LIRAs from RRSPs?
What is a key feature that distinguishes LRSPs and LIRAs from RRSPs?
Why do LRSPs and LIRAs not allow regular contributions like RRSPs?
Why do LRSPs and LIRAs not allow regular contributions like RRSPs?
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