45.

An individual works at Bombardier where he has a generous defined benefit pension plan.His current service contribution would be restricted to the lesser of 9% of the employees compensation for the year or

Select one:

a. $1,000 plus 100% of their PA for the year.

b. $10,000 plus 70% of their PA for the year.

c. $1,000 plus 70% of their PA for the year.

d. $10,000 plus 100% of their PA for the year.

46.

You acquired 2,500 warrants of ABC Corp. expiring June 1, 2020 at $2.00 per warrant and allows them to expire without exercise. How should you report this transaction to the Canada Revenue Agency (CRA)?

Select one:

a. You cannot claim the loss under any circumstances.

b. You can claim the loss without having to sign any declaration or form.

c. You can claim the loss only if she submits the appropriate CRA form declaring the warrants worthless.

d. You can claim the loss only if the underlying company declares bankruptcy.