1. Janice just graduated from Concordia and started a full-time job. She sat down with Human Resources and was explained the various benefits in the company. She was very excited to hear that she was eligible to participate in her companys retirement plan (Group Registered Retirement Savings Plan (Group RRSP)) from day 1. She knew from her FINA 200 course that compounding interest and time were to her advantage in accumulating a nice retirement fund. She also found out that her company would match her contributions dollar for dollar in this plan! The plan averages an annual return of 7% interest compounded weekly. Janice is 23 years old and plans to retire at age 65. She contributes 6% of her gross monthly salary of $3,750 into her retirement plan on the 1^st of each month, as does her employer for the match. How much will she have in her Group RRSP when she retires?

1. $1,384,152
2. $1,376,107
3. $1,235,886
4. $1,427,320
5. $1,245,825

1. On April 1, 2018, Kevin purchased a life insurance policy with a face value of $90,000 and mistakenly checked a box on his application that said he did not have high cholesterol. He did however have high cholesterol and yesterday, April 9, 2021, died of a heart attack. The policy specified the incontestability date as April 1, 2020. Which statement is true?

1. Beneficiary will receive a refund of the premiums paid to date.
2. Beneficiary will receive $30,000 (i.e. $90,000/3 years) of the life insurance policy.
3. Beneficiary will receive the life insurance policy of $90,000 plus a refund of the premiums paid to date.
4. Kevin will receive $90,000 from the life insurance policy.
5. Beneficiary will receive $90,000 from the life insurance policy as the policy has passed the incontestability date

1. In April 2020, Philip purchased 1,000 shares at $20/share in Crazy Inc. In April 2021, as Philip needed money for his tuition, he decided to sell his shares as they hit $25/share. During this one year, he received $1,900 in total dividend payments. What was Philips investment return?

1. 25.00%
2. 29.67%
3. 34.50%
4. 35.10%
5. 33.18%