11/3/25, 3:44 PM Segregated funds & annuities MOCK EXAM Flashcards | Quizlet
Segregated funds & annuities MOCK EXAM
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Chapter 3 - The Income Statement ACCTG 222 - Formulas Fundamentals of Accounting: Debits... Finance
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Terms in this set (43)
Upon withdrawal from a ________, neither the principal deposit nor the income earned
Tax free savings account
within the plan are treated as taxable income in the hands of the plan holder.
The annual minimum ________withdrawals can be based on the age of the annuitant's
spouse or common-law partner. The younger the age of the measuring life the lower
Registered retirement income fund
the minimum withdrawal will be, leaving more funds to grow tax-deferred in the
________.
1. What is a disadvantage of owning a Service fees impact the returns when investing for the long term
mutual fund?
2. Ethan is a 24-year-old oil rig worker who $78,743
has been saving to go to university for the
past few years. Tuition for the first year is
due next week and will be $18,000
including books. If tuition experiences 6%
inflation, how much will Ethan need to have
in his bank account now, to be able to pay
for a four year degree?
3. Marta is a young aggressive investor. She An index fund that tracks global emerging markets.
is looking for a segregated fund that has
the potential to make her a lot of growth.
Since she will not make any withdrawals
until maturity, volatility is not a concern to
her. Which is the best fund for her?
4. Which statement would be most useful in Both segregated funds and mutual funds work on the pool concept. Professional
explaining to a client how mutual funds and fund managers monitor all investments closely.
segregated funds function?
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, 11/3/25, 3:44 PM Segregated funds & annuities MOCK EXAM Flashcards | Quizlet
5. Melanie is 62 years old. She is Liquidity.
considering investing in a product which
her agent identifies as having a guaranteed
minimum withdrawal benefit. Which normal
advantage of a segregated fund contract
will she lose if she wishes to take full
advantage of the features associated with
the guaranteed minimum withdrawal
benefit (GMWB)?
6. Which of the following investments Treasury Bills. (T-Bills)
presents the investor with the least risk?
7. Joshua has purchased an Individual His income will remain at least $12,200.
Variable Insurance Contract (IVIC)
featuring a Guaranteed Lifetime Withdrawal
Benefit (GLWB). In the first year of
guaranteed income, Joshua's income was
$12,200, or 5% of the value of the contract.
This was the guaranteed amount. At the
same time, Joshua's investment returns were
7% and his management fees represented
4% of the value of the fund. What will the
consequences be for Joshua's income in
the future?
8. Ash passes away in a car accident. He $3,000 Calculations $5,600 x 0.80 = $4,480 - $1,480 = $3,000
had a segregated fund with an 80%
maturity guarantee and an 80% death
benefit guarantee. Ash's deposits totaled
$5,600. The insurer paid a guaranteed top-
up of $1,480 to the annuitant. What is the
market value of the segregated fund at
Ash's death?
https://quizlet.com/ca/623674390/segregated-funds-annuities-mock-exam-flash-cards/ 2/10
Segregated funds & annuities MOCK EXAM
Leave the first rating
Save
Students also studied
Chapter 3 - The Income Statement ACCTG 222 - Formulas Fundamentals of Accounting: Debits... Finance
11 terms 28 terms 42 terms 50 terms
quizlette65045465 Preview Brooke_McDavid1 Preview Apricity25 Preview Sele
Terms in this set (43)
Upon withdrawal from a ________, neither the principal deposit nor the income earned
Tax free savings account
within the plan are treated as taxable income in the hands of the plan holder.
The annual minimum ________withdrawals can be based on the age of the annuitant's
spouse or common-law partner. The younger the age of the measuring life the lower
Registered retirement income fund
the minimum withdrawal will be, leaving more funds to grow tax-deferred in the
________.
1. What is a disadvantage of owning a Service fees impact the returns when investing for the long term
mutual fund?
2. Ethan is a 24-year-old oil rig worker who $78,743
has been saving to go to university for the
past few years. Tuition for the first year is
due next week and will be $18,000
including books. If tuition experiences 6%
inflation, how much will Ethan need to have
in his bank account now, to be able to pay
for a four year degree?
3. Marta is a young aggressive investor. She An index fund that tracks global emerging markets.
is looking for a segregated fund that has
the potential to make her a lot of growth.
Since she will not make any withdrawals
until maturity, volatility is not a concern to
her. Which is the best fund for her?
4. Which statement would be most useful in Both segregated funds and mutual funds work on the pool concept. Professional
explaining to a client how mutual funds and fund managers monitor all investments closely.
segregated funds function?
https://quizlet.com/ca/623674390/segregated-funds-annuities-mock-exam-flash-cards/ 1/10
, 11/3/25, 3:44 PM Segregated funds & annuities MOCK EXAM Flashcards | Quizlet
5. Melanie is 62 years old. She is Liquidity.
considering investing in a product which
her agent identifies as having a guaranteed
minimum withdrawal benefit. Which normal
advantage of a segregated fund contract
will she lose if she wishes to take full
advantage of the features associated with
the guaranteed minimum withdrawal
benefit (GMWB)?
6. Which of the following investments Treasury Bills. (T-Bills)
presents the investor with the least risk?
7. Joshua has purchased an Individual His income will remain at least $12,200.
Variable Insurance Contract (IVIC)
featuring a Guaranteed Lifetime Withdrawal
Benefit (GLWB). In the first year of
guaranteed income, Joshua's income was
$12,200, or 5% of the value of the contract.
This was the guaranteed amount. At the
same time, Joshua's investment returns were
7% and his management fees represented
4% of the value of the fund. What will the
consequences be for Joshua's income in
the future?
8. Ash passes away in a car accident. He $3,000 Calculations $5,600 x 0.80 = $4,480 - $1,480 = $3,000
had a segregated fund with an 80%
maturity guarantee and an 80% death
benefit guarantee. Ash's deposits totaled
$5,600. The insurer paid a guaranteed top-
up of $1,480 to the annuitant. What is the
market value of the segregated fund at
Ash's death?
https://quizlet.com/ca/623674390/segregated-funds-annuities-mock-exam-flash-cards/ 2/10
