RESP Contribution Limit Quiz

What is the maximum A-CESG payment that George and Maria can receive for their daughter's RESP account if they contribute $1000 annually?

If a family's adjusted net income is $50,000, what is the CESG rate that would be applicable to their RESP contributions?

What is the maximum annual CESG contribution limit per beneficiary as per the text?

If a child is born in 2002, would they be eligible to receive Canada Learning Bond (CLB) payments?

Would the CESG lifetime maximum change if A-CESG payments are made as per the text?

What happens to the CLB (Canada Learning Bond) if a beneficiary does not attend a qualified post-secondary education program?

If the parents decide to close Pavan's RESP, what must be done with the CESG (Canada Education Savings Grant) money?

For how long can RESPs remain open according to the text?

What happens to any investment earnings from an RESP according to the text?

If Kiran has no other income and receives Educational Assistance Payments (EAPs) from her RESP, what can be said about her tax obligation?

What is the total amount the couple is eligible to receive when opening an RESP account for their daughter Alyssa?

How is the CESG contribution calculated for Alyssa?

In what circumstances can withdrawals be made from an RESP account?

What must be done to receive the additional $25 from the CLB program when opening an RESP account?

What happens to the CESG contributions not used in one year?

What is the maximum lifetime contribution per beneficiary that can be made to an RESP?

In an RESP, are the contributions tax deductible for the contributors?

What is the matching percentage provided by the Canada Education Savings Grant (CESG) on the first $2,500 annual contribution?

Until when is the Canada Education Savings Grant (CESG) available for a child?

Is there an annual limit to the amount that can be contributed to an RESP?

Bethany purchased 2,500 units of Gamma International Equity Fund at a NAVPU of $32.67. If she decides to sell all her units when the NAVPU is $44.46, what is the market value of her investment?

What is the deferred sales charge percentage if units are redeemed in year 3 of the fund?

Based on the redemption fee schedule, what would be the deferred sales charge if Bethany redeemed her 2,500 units in year 2?

When will Bethany's redemption charges fall to zero according to the redemption fee schedule?

If Bethany holds onto her units until Year 5 before redeeming them, how much would she pay as a deferred sales charge?

If a qualified beneficiary contributes $2,000 to their RESP in a year, how much CESG payment would they receive based on the text?

What is the maximum age limit up to which the federal government will pay CESG for a beneficiary according to the text?

If a family with an adjusted net income above a certain threshold contributes $3,000 into an RESP, would they be eligible for Additional Canada Education Savings Grant (A-CESG) payments based on the text?

If a beneficiary can only manage to receive half of their eligible CESG in a year, what happens to the remaining grant room according to the text?

What is the lifetime limit for accumulating CESG per qualified beneficiary as mentioned in the text?

What components make up the contribution room for a TFSA in any given year?

In the given scenario, how much did Marco withdraw from his TFSA in August 2012?

What was Marco's investment income in August 2012?

In 2013, what is Marco's total contribution room for his TFSA?

Which action does not affect an individual's contribution room for a TFSA?

What did Marco do when he turned 18 in 2011?

What is the consequence of contributing more than the annual limit to a TFSA?

What is the purpose of the cash portion in mutual funds?

In which type of fund might you find real property investments?

Which type of fund focuses on market capitalization when selecting investments?

What is the main purpose of tactical asset allocation funds?

Which type of fund would be most likely to invest significantly in short-term, low-risk securities?

What is the primary investment objective of money market funds?

What is the main difference between money market funds and balanced funds?

What is the typical term to maturity for securities in a money market fund?

Which type of fund focuses primarily on safety of capital and steady income?

What distinguishes balanced funds from fixed income funds?

What is the primary difference between money market funds and traditional bank accounts?

Why are money market funds considered better suited for short-term goals?

In what direction do investment returns in money market funds usually move in relation to general interest rates?

What is a key characteristic of U.S. money market funds compared to Canadian money market funds?

Why are money market funds considered suitable for investors who want principal protection?

What is the main reason why mortgage funds typically pay higher income than money market funds?

How does the price of a mortgage fund react to an increase in interest rates?

In a mortgage fund, what happens to the principal repayment received on mortgages?

What role does the Canada Mortgage and Housing Corporation (CMHC) play in relation to NHA mortgages?

Why are mortgage securities pooled together in mortgage funds?

Which type of mutual fund may have a market price that does not reflect its net asset value per unit (NAVPU)?

In contrast to closed-end funds, open-end mutual funds are characterized by:

Which type of mutual fund is always bought and sold at a market price reflecting its NAVPU?

For the purpose of the course discussions, the focus is on:

Which type of fund is considered a liquid investment that can be quickly converted to cash?

What distinguishes closed-end mutual funds from open-end mutual funds?

Which statement accurately describes the structure of closed-end mutual funds?

What is a characteristic of open-end mutual funds?

When comparing closed-end and open-end mutual funds, which is true about how they operate in secondary markets?

What role does a secondary market play in the trading of closed-end mutual fund units?

Which type of fund typically holds commercial, industrial, and residential mortgages?

Why do mortgage funds generally have lower price volatility than bond funds?

What is the primary objective of bond funds?

How are bond funds typically classified?

Why do investment grade bonds generally pay lower interest rates?

What makes mortgage funds different from bond funds in terms of risk?

Which type of fund primarily aims to produce income from interest and capital gains?

What is the main advantage of bond funds over specialty funds?

Why do investment grade bonds involve lower risk compared to higher-risk bonds?

In which type of fund can you expect both interest income and capital gains as part of the investment objective?

What happens to the number of units issued after an initial public offering (IPO) for closed-end mutual funds?

How can investors trade units of closed-end mutual funds after the initial public offering (IPO)?

Which factor primarily determines the market price of closed-end mutual fund units?

How do open-end mutual funds primarily differ from closed-end mutual funds in terms of unit supply?

What is a key feature of open-end mutual funds that differentiates them from closed-end mutual funds when it comes to buying and selling units?

What is a characteristic of open-end mutual funds?

What distinguishes closed-end mutual funds from open-end mutual funds?

How is the market price of closed-end mutual funds determined?

In what way do closed-end mutual funds operate differently in the secondary market compared to open-end mutual funds?

What is the key factor that influences the net asset value per unit (NAVPU) of open-end mutual funds?

What is the main factor that determines the price of closed-end mutual funds?

Why might the market price of a closed-end mutual fund differ from its net asset value per unit (NAVPU)?

What distinguishes the market price behavior of open-end mutual funds from that of closed-end mutual funds?

In what way do open-end mutual funds differ in their trading compared to closed-end mutual funds?

What role does the secondary market play in the trading of closed-end mutual fund units?

What distinguishes closed-end mutual funds from open-end mutual funds in terms of trading?

How is the market price of open-end mutual funds determined?

In terms of price volatility, how do closed-end mutual funds compare to open-end mutual funds?

Which of the following statements about secondary market trading of mutual fund units is true?

What factor primarily determines the price of closed-end mutual funds in the secondary market?

What aspect differentiates the market price of ETFs from their net asset value?

In secondary markets, what distinguishes closed-end mutual funds from open-end mutual funds?

What is a key factor contributing to the tracking error in ETFs compared to the indexes they track?

When ETF bid and ask prices are matched, what occurs?

In secondary markets, what role does the bid ask price process play in determining the traded price of closed-end mutual funds?

What is a distinguishing feature of closed-end mutual funds compared to open-end mutual funds?

What determines the market price of open-end mutual funds?

In the context of mutual funds, what is the primary purpose of trading on secondary markets?

What is the main reason why open-end mutual funds do not experience significant price volatility compared to closed-end mutual funds?

What is the primary reason why closed-end mutual funds are more likely to trade at a premium or discount to their Net Asset Value per Unit (NAVPU)?

What is a key characteristic that distinguishes closed-end mutual funds from open-end mutual funds?

Which factor contributes significantly to the determination of market price in closed-end mutual funds?

When comparing the operation of closed-end and open-end mutual funds in secondary markets, which statement accurately describes this difference?

What role does the secondary market play in the trading of closed-end mutual fund units?

Why are closed-end mutual funds more likely to have their market prices deviate from the net asset value per unit compared to open-end mutual funds?

In the context of secondary market trading, which action is least likely to affect an individual's contribution room for a TFSA?

Which characteristic makes the market price determination of closed-end mutual funds more complex compared to open-end mutual funds?

What role do professional portfolio managers play in the determination of market prices for closed-end mutual funds?

What is one reason why closed-end mutual funds may be considered riskier investment options compared to open-end mutual funds?