11/3/25, 3:45 PM TNL : LLQP Practice Exam : Seg Funds Flashcards | Quizlet
Social Science Economics Finance
TNL : LLQP Practice Exam : Seg Funds
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Chapter 4: (in regards to section 18) ... Accounting-Unit 8 Test CFA Level 1 Terms 2025 Workin
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Terms in this set (56)
Rebecca recently purchased her first home. 3 - Low level of financial literacy
She was surprised when she was told that a
mortgage was a form of leveraging.
Rebecca is risk averse, especially when it
comes to her hard-earned money. She
holds individual bonds within her RRSP and
commented that she believes her existing
bonds will increase in value due to rising
interest rates.
What personal risk should Rebecca be
concerned about?
1 - Risk of job loss
2 - Market risk
3 - Low level of financial literacy
4 - Inflation risk
https://quizlet.com/ca/886561241/tnl-llqp-practice-exam-seg-funds-flash-cards/ 1/23
,11/3/25, 3:45 PM TNL : LLQP Practice Exam : Seg Funds Flashcards | Quizlet
Today, at age 53, Robert has a remaining 4 - He should consider delaying his retirement age in order to earn more pension
mortgage of $50,000 on his home, which is funding and decrease his longevity risk.
valued at $300,000.
Robert's plan was to retire at age 60, which
he thought would be possible given he is
part of his employer's pension plan and
because he has approximately $250,000 in
RRSPs invested in balanced mutual funds.
However, after doing a retirement planning
analysis, it is clear that his current strategy
will not provide the required retirement
income.
What course of action would you suggest?
1 - He should transfer his RRSPs into more
aggressive investments to earn a higher
return and make up the shortfall.
2 - He should withdraw $60,000 from his
RRSP and pay off his mortgage in order to
increase his equity.
3 - He should take an equity loan out
against his home and invest those funds
within his RRSP.
4 - He should consider delaying his
retirement age in order to earn more
pension funding and decrease his longevity
risk.
Buddy was an astute businessman. When 4 - Accumulation annuity
making business or investment decisions,
he always did his research before
proceeding. Upon retirement, he decided
to purchase an annuity. In order to minimize
certain risks, Buddy decided to diversify his
portfolio by annuity type and purchase
date. He purchased four annuities over a
10-year span. Buddy named his only son,
Gerry, as the sole beneficiary of his estate.
Under which one of the following annuities
would Gerry have a claim as a beneficiary?
1 - Term annuity at the end of its term
2 - Joint-and-last-survivor annuity
3 - Straight life annuity
4 - Accumulation annuity
https://quizlet.com/ca/886561241/tnl-llqp-practice-exam-seg-funds-flash-cards/ 2/23
, 11/3/25, 3:45 PM TNL : LLQP Practice Exam : Seg Funds Flashcards | Quizlet
Morris and June just celebrated their 35" 2 - $8,484.10
wedding anniversary. They are both about
to retire at age 65 and are looking forward
to spending their golden years together.
June will be receiving a company pension
of $22,930 per annum. Morris does not
have any type of pension plan.
Assuming that June's MTR is 45% and
Morris' MTR is only 29%, what would their
combined annual tax liability be on the
pension benefit?
NOTE: Assume that the splitting of pension
benefits would not impact their respective
MTR.
1 - $10,318.50
2 - $8,484.10
3 - $3,668.80
4 - $1,834.40
Julius invested $150,000 into a segregated 3 - They would receive the guaranteed amount of $163,000
fund three years ago. The fund offered a
75% guarantee upon death or upon the 10-
year maturity date. A 100% guarantee is also
available subject to a 15-year maturity date.
Julius opted for the 100% guarantee. A few
years later, he reset the guarantee at a time
when the contract was worth $163,000
Shortly after resetting the guarantee, Julius
died. At the time of his death, the contract
value was $157,200
How much would his beneficiaries receive?
1 - They would receive the market value at
the time of the redemption.
2 - Resets are designed to benefit the
contract holder but not the beneficiary.
Therefore, his beneficiaries would only
receive $157,200
3 - They would receive the guaranteed
amount of $163,000
4 - They would not be entitled to anything
until the 15-year maturity date.
https://quizlet.com/ca/886561241/tnl-llqp-practice-exam-seg-funds-flash-cards/ 3/23
Social Science Economics Finance
TNL : LLQP Practice Exam : Seg Funds
8 studiers in 3 days Leave the first rating
Save
Students also studied
Chapter 4: (in regards to section 18) ... Accounting-Unit 8 Test CFA Level 1 Terms 2025 Workin
9 terms 23 terms 80 terms 73 terms
witchdaggers Preview greatspiderman1997 Preview annahofmann66 Preview bria
Terms in this set (56)
Rebecca recently purchased her first home. 3 - Low level of financial literacy
She was surprised when she was told that a
mortgage was a form of leveraging.
Rebecca is risk averse, especially when it
comes to her hard-earned money. She
holds individual bonds within her RRSP and
commented that she believes her existing
bonds will increase in value due to rising
interest rates.
What personal risk should Rebecca be
concerned about?
1 - Risk of job loss
2 - Market risk
3 - Low level of financial literacy
4 - Inflation risk
https://quizlet.com/ca/886561241/tnl-llqp-practice-exam-seg-funds-flash-cards/ 1/23
,11/3/25, 3:45 PM TNL : LLQP Practice Exam : Seg Funds Flashcards | Quizlet
Today, at age 53, Robert has a remaining 4 - He should consider delaying his retirement age in order to earn more pension
mortgage of $50,000 on his home, which is funding and decrease his longevity risk.
valued at $300,000.
Robert's plan was to retire at age 60, which
he thought would be possible given he is
part of his employer's pension plan and
because he has approximately $250,000 in
RRSPs invested in balanced mutual funds.
However, after doing a retirement planning
analysis, it is clear that his current strategy
will not provide the required retirement
income.
What course of action would you suggest?
1 - He should transfer his RRSPs into more
aggressive investments to earn a higher
return and make up the shortfall.
2 - He should withdraw $60,000 from his
RRSP and pay off his mortgage in order to
increase his equity.
3 - He should take an equity loan out
against his home and invest those funds
within his RRSP.
4 - He should consider delaying his
retirement age in order to earn more
pension funding and decrease his longevity
risk.
Buddy was an astute businessman. When 4 - Accumulation annuity
making business or investment decisions,
he always did his research before
proceeding. Upon retirement, he decided
to purchase an annuity. In order to minimize
certain risks, Buddy decided to diversify his
portfolio by annuity type and purchase
date. He purchased four annuities over a
10-year span. Buddy named his only son,
Gerry, as the sole beneficiary of his estate.
Under which one of the following annuities
would Gerry have a claim as a beneficiary?
1 - Term annuity at the end of its term
2 - Joint-and-last-survivor annuity
3 - Straight life annuity
4 - Accumulation annuity
https://quizlet.com/ca/886561241/tnl-llqp-practice-exam-seg-funds-flash-cards/ 2/23
, 11/3/25, 3:45 PM TNL : LLQP Practice Exam : Seg Funds Flashcards | Quizlet
Morris and June just celebrated their 35" 2 - $8,484.10
wedding anniversary. They are both about
to retire at age 65 and are looking forward
to spending their golden years together.
June will be receiving a company pension
of $22,930 per annum. Morris does not
have any type of pension plan.
Assuming that June's MTR is 45% and
Morris' MTR is only 29%, what would their
combined annual tax liability be on the
pension benefit?
NOTE: Assume that the splitting of pension
benefits would not impact their respective
MTR.
1 - $10,318.50
2 - $8,484.10
3 - $3,668.80
4 - $1,834.40
Julius invested $150,000 into a segregated 3 - They would receive the guaranteed amount of $163,000
fund three years ago. The fund offered a
75% guarantee upon death or upon the 10-
year maturity date. A 100% guarantee is also
available subject to a 15-year maturity date.
Julius opted for the 100% guarantee. A few
years later, he reset the guarantee at a time
when the contract was worth $163,000
Shortly after resetting the guarantee, Julius
died. At the time of his death, the contract
value was $157,200
How much would his beneficiaries receive?
1 - They would receive the market value at
the time of the redemption.
2 - Resets are designed to benefit the
contract holder but not the beneficiary.
Therefore, his beneficiaries would only
receive $157,200
3 - They would receive the guaranteed
amount of $163,000
4 - They would not be entitled to anything
until the 15-year maturity date.
https://quizlet.com/ca/886561241/tnl-llqp-practice-exam-seg-funds-flash-cards/ 3/23
