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1) When planning for retirement, which of the following is not true? Select one: a. The expected rate of return on your savings will not

1)

When planning for retirement, which of the following is not true?

Select one:

a.

The expected rate of return on your savings will not impact how much you will need at retirement.

b.

The higher the rate of return on your savings while retired, the less you need to have saved by retirement.

c.

The more you contribute to your retirement account, the less it has to earn.

d.

The longer you have to save, and the sooner you begin saving, the less you have to save each year.

2)

All of the following are true about Registered Retirement Savings Plans (RRSP) EXCEPT:

Select one:

a.

An RRSP allows you to realize immediate tax benefits at a time when your income is generally highest.

b.

Your annual contribution can be deducted from your gross income at tax time, reducing your taxable income.

c.

An RRSP guarantees 100% of the original amount that you invested.

d.

The income from your RRSP is not taxed until you begin to withdraw funds at retirement.

3)

In Canada, home ownership, retirement savings, and education are seen as personal goals that benefit society as well as the individual. Tax advantages are created to encourage progress toward those goals. Which of the following vehicles DO NOT create tax advantages:

Select one:

a.

a registered pension plan (RPP)

b.

tax-free savings account (TFSA)

c.

high interest savings account

d.

registered retirement savings plan (RRSP)

4)

Which of the following questions regarding primary and secondary markets is incorrect:

Select one:

a.

The secondary market makes the stock a liquid or tradable asset, which reduces its risk for both the issuing company and the investor buying it

b.

Primary stock is initially sold through an IPO, and the proceeds go to the company issuing the stock; initial public offering (IPO)

c.

Most people trade though the primary market. Whenever a stock changes hands, it is a primary market transaction

d.

Through the secondary market, stock changes hands in the public/stock market

5)

Behavioural interviews emphasize your past actions as indicators of how you might perform in the future. The STAR Method is a good approach to answering behavioural questions, as it helps you to be systematic and specific in making your past work experiences relevant to your present job quest. The STAR Method is a process of conveying which of the following details in response to an interviewers question about something you did in the past?

Select one:

a.

Situation, Timeframe, Abilities, Rewards

b.

Situation, Task, Action, Result

c.

Situation, Task, Aptitudes, Role

d.

None of these answers are correct

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