1. What is the minimum age to open a TFSA? 1

2. Name the companies that provide mandatory mortgage insurance. 1

3. Is withdrawal from RRSP taxable? 1

4. What is the maximum lifetime government grant available for a beneficiary in the case of RESP?

1

5. State any insurance which is mandatory by law? 1

6. Write short notes on the following:

a. Amortization Period 5

b. Tax-Free Saving Account

c. Identity Theft 5

d. Premium

e. Own Occupation Disability Insurance 5

7. What happens to the RESP fund if the beneficiary child does not go to school? 5

8. Own Occupation Disability Vs. Any Occupation Disability Insurance 5

9. Which option would you choose to close RRSP and why? 10

10. What do you understand by down payment in the context of a mortgage? How much down payment would you like to pay and why?