CIFC Final Exam Questions Review Correct 100%

Series T fund - ANSWERSRicardo has started attending meetings between his mother and her financial advisor. Ricardo realizes that Maria is going to need $3000.00 monthly income from her investments now that she is fully retired. Which of the following investments will be best for Ricardo's mom? explanation: Income paid but can differ from year to year Channeling funds using direct financing - ANSWERSSusan needs $1500 to help her cover expenses until she finished school and can begin to pick up some extra shifts at work. She approaches her sister who agrees to lend her the money. In which of the following ways is the financial market serving Susan? HST credit - ANSWERSan example of a refundable tax credit 32.1 units - ANSWERSConsider the following table. Sylvia's holdings in the XXX Growth fund 300 units ACB of Sylvia's units on Jan 1st, 200X $10.50 April 27th distribution paid $1.50 per unit Reinvestment price ( April 26th NAVPS) $14 Assuming Sylvia reinvests all of the dividends paid out, how many units did she purchase? $55,200 - ANSWERSSheila Good has an income of $45,000 from her job as a kindergarten teacher. During the year she was unemployed for a period of time and received EI of $4000. She also received $6200 of investment income over the year. What is Sheila's total taxable income? b. Kevin is the owner and Karla is the contributor - ANSWERSIf Karla has a spousal RRSP in place for her husband Kevin which is true? a. Kevin is the owner and Kevin is the contributor b. Kevin is the owner and Karla is the contributor c. Karla is the owner and Karla is the contributor d. Karla is the owner and Kevin is the contributor A defined benefit plan - ANSWERSChristine will be retiring in 5 years. She is now and has always been a little conservative. It is not surprising then that she has indicated to you that she would really like to know with some ce