$4$

Jenny and Sam are planning to purchase a new home in the next few months. Last year, on May $1^{st},$ Jenny withdrew $$25,000$ from her RRSP and used the funds to make a downpayment on their new home. Under the terms of the Home Buyers' Plan, how much will Jenny have to put back into her RRSP for the current calendar year?

a$)$ $$0$

b$)$ $$1,667$

c$)$ $$2,500$

d$)$ $$3,000$

Question Number: $5$ of $87$

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$5$

Six years ago in January, Laurent made a $$10,000$ withdrawal from his RRSP under the Lifelong Learning Program, to pay his tuition for his four$-$year university course. Unfortunately, because Laurent failed a few courses throughout that time, it took $6$ years for him to complete his program, even though he was enrolled as a full$-$time student each year. He finally graduated this year at the end of January. Laurent was able to claim the full$-$time education amount for each year he was in school including the one month this year. What statement is true?

a$)$ His first repayment is due in two years.

b$)$ His first repayment was due last year.

c$)$ His maximum repayment amounts are $$1,000$ per year.

d$)$ His course failures ended his eligibility for withdrawals under the LLP$.$

$q,$

CFP ${?}^{},$ CERTIFIED FINANCIAL PLANNER ${?}^{}$ and $8$ are certification marks owned outside the U$.$S$.$ by Financial Planning Standards Board Ltd$.($FPSB$).$ FP Canada ${?}^{TM}$ is the marks licensing authority for the CFP marks in Canada, through agreement with FPSB$.$