FINA 2 4 8 Review Questions Unit 1 and 2 In what countries did the baby boom occur During what years did the baby boom occur What caused the baby boom What are the 6 steps to the financial planning process Under which Prime Minister and in what year did OAS begin in Canada Joseph and Lisa retained a financial planner The financial planner met with them and established a client planner letter of engagement The planner then gathered all of their financial information and discussed their retirement objectives thoroughly A plan was then written and presented to Joseph and Lisa What, in order, are the next steps in the process What does YBE stand for and how much is it What does YMPE stand for and how much is it in 2 0 1 9 The year is 2 0 1 9 , Jose works for Bell Canada and earns 5 5 , 7 5 0 If the YMPE for 2 0 1 9 is 5 7 , 4 0 0 how much in contributory earnings did Jose have in 2 0 1 9 Andrew earns $ 8 9 , 0 0 0 per year as a self employed carpenter If the YMPE is $ 6 3 , 0 0 0 how much are Andrew's contributory earnings If the year is 2 0 1 9 how much will Andrew have to contribute to CPP in if his income is $ 8 9 , 0 0 0 Susan is eligible to receive $ 1 2 0 0 per month in CPP at age 6 5 If she retires and takes her CPP at age 6 2 how much will Susan receive in CPP per year If Susan delavs her CPP to age 6 8 how much will she receive in CPP per month Susan and Mary are a same sex couple that have been married for 3 0 years They both contributed to CPP for 4 0 years Mary and Susan decide to split ( assign ) their CPP benefits If Mary is entitled to receive $ 1 0 0 0 per month and Susan is entitled to receive $ 8 0 0 per month how much will each receive in CPP after the assignment process is completed Jose and Mario are a same sex couple They have been married for 2 0 years and have been contributing to CPP for 2 5 years Jose receives $ 8 0 0 per month in CPP and Mario receives $ 5 5 0 per month in CPP Please answer the following questions What percentage of their CPP can be assigned How much of Mario's CPP is unassignable How much of Jose's CPP is assignable What is the total assignable amount How much CPP will Mario and Jose receive after the assignment process is complete Lorna has pensionable employment earnings of $ 3 2 , 8 0 0 If the year's maximum pensionable earnings are $ 5 5 , 3 0 0 , what are Lorna's CPP contributory earnings Canada Pension Plan benefits are indexed by how much and when Flora, who is 6 4 years of age, enjoys working and sees no reason to retire prior to age 7 0 If she does in fact defer collecting her CPP retirement benefits until age 7 0 , by what percentage will her basic benefit increase relative to Flora collecting her pension at the standard age ( disregard the possibility of a post retirement CPP benefit )

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FINA 2 4 8 Review Questions   Unit 1 and 2 In what countries did the baby boom occur  During what years did the baby boom occur  What caused the baby boom  What are the 6 steps to the financial planning process  Under which Prime Minister and in what year did OAS begin in Canada  Joseph and Lisa retained a financial planner  The financial planner met with them and established a client planner letter of engagement  The planner then gathered all of their financial information and discussed their retirement objectives thoroughly  A plan was then written and presented to Joseph and Lisa  What, in order, are the next steps in the process  What does YBE stand for and how much is it   What does YMPE stand for and how much is it in 2 0 1 9   The year is 2 0 1 9 , Jose works for Bell Canada and earns 5 5 , 7 5 0   If the YMPE for 2 0 1 9 is 5 7 , 4 0 0 how much in contributory earnings did Jose have in 2 0 1 9   Andrew earns $ 8 9 , 0 0 0 per year as a self   employed carpenter  If the YMPE is $ 6 3 , 0 0 0 how much are Andrew's contributory earnings  If the year is 2 0 1 9 how much will Andrew have to contribute to CPP in if his income is $ 8 9 , 0 0 0   Susan is eligible to receive $ 1 2 0 0 per month in CPP at age 6 5   If she retires and takes her CPP at age 6 2 how much will Susan receive in CPP per year  If Susan delavs her CPP to age 6 8 how much will she receive in CPP per month  Susan and Mary are a same sex couple that have been married for 3 0 years  They both contributed to CPP for 4 0 years  Mary and Susan decide to split ( assign ) their CPP benefits  If Mary is entitled to receive $ 1 0 0 0 per month and Susan is entitled to receive $ 8 0 0 per month how much will each receive in CPP after the assignment process is completed  Jose and Mario are a same sex couple  They have been married for 2 0 years and have been contributing to CPP for 2 5 years  Jose receives $ 8 0 0 per month in CPP and Mario receives $ 5 5 0 per month in CPP   Please answer the following questions What percentage of their CPP can be assigned  How much of Mario's CPP is unassignable  How much of Jose's CPP is assignable  What is the total assignable amount  How much CPP will Mario and Jose receive after the assignment process is complete  Lorna has pensionable employment earnings of $ 3 2 , 8 0 0   If the year's maximum pensionable earnings are $ 5 5 , 3 0 0 , what are Lorna's CPP contributory earnings  Canada Pension Plan benefits are indexed by how much and when  Flora, who is 6 4 years of age, enjoys working and sees no reason to retire prior to age 7 0   If she does in fact defer collecting her CPP retirement benefits until age 7 0 , by what percentage will her basic benefit increase relative to Flora collecting her pension at the standard age ( disregard the possibility of a post   retirement CPP benefit )

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FINA 2 4 8 Review Questions - Unit 1 and 2 In what countries did the baby boom occur? During what years did the baby

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