Segregated Funds & Annuities Mock Exam Study Guide with Complete Solutions

Segregated Funds & Annuities Mock Exam Study Guide with Complete SolutionsSegregated Funds & Annuities Mock Exam Study Guide with Complete SolutionsSegregated Funds & Annuities Mock Exam Study Guide with Complete Solutions Group Registered Retirement Savings Plan (GRRSP) - ANSWER-GRRSPs offer investors a limited variety of investment choices, but they have lower fees compared with individual RRSPs. Cancellation of Segregated Fund Contract - ANSWER-An investor may cancel or rescind the segregated fund contract in writing within the specific time limitation set by the insurer providing the contract. Two days is the usual length of time permitted. The investor receives the lesser of the amount of premium paid or value of fund units on that date if it is a valuation date. If it is not a valuation date, then the value on the next valuation date applies. Advanced Deferred Life Annuity (ADLA) - ANSWER-A lifetime limit of 25% of the value of the qualifying plan, to a total of $150,000 applies to ALDA purchases. The ALDA has the ability to defer payments until the end of the year in which the annuitant reaches 85.