In a defined contribution plan, an employer agrees to provide a specified benefit, usually expressed as a percentage of earnings for each year of qualifying service.

Question 1 options:

	True
	False

Pension adjustments for a defined benefit pension plan are equal to the annual employee contributions plus the annual employer contributions.

Question 5 options:

	True
	False

On April 1, 2014 Mrs.Wu set up an RRSP in her name and contributed $600 to it. On October 1, 2015 Mr. Wu contributed an additional $1,000 into Mrs. Wu's RRSP. On June 1, 2016 Mrs. Wu withdrew $1,600 from her RRSP. As a result of the withdrawal:

Question 8 options:

	A. Mrs. Wu's 2016 taxable income increased by $1,600.
	B. Mr. Wu's 2016 taxable income increased by $1,600.
	C. Mrs. Wu's 2016 taxable income increased by $800 and Mr. Wu's increased by $800.
	D. Mrs. Wu's 2016 taxable income increased by $600 and Mr. Wu's increased by $1,000.

With respect to a defined contribution Registered Pension Plan, which of the following statements is NOT correct?

Question 9 options:

	A. The employer agrees to make a specified contribution for each year of service.
	B. The Pension Adjustment that will be calculated for each employee is based on the amounts of contributions that have been made by the employee and employer.
	C. Both the employee and employer can make contributions to such plans.
	D. The employees pension benefit is not affected by rates of return on the pension plan assets.

Which of the following statements is correct about the Lifelong Learning Plan?

Question 10 options:

	A. The maximum tax-free withdrawal is $10,000 per year for up to four years.
	B. A taxpayer cannot participate in a Home Buyers Plan and a Lifelong Learning Plan in the same year.
	C. Minimum repayments must be made over a period of ten years.
	D. Tax-free withdrawals can be made by a part-time student as long as they are repaid within two years.