Jose is looking for a savings vehicle which will provide him with a lifetime income stream once he retires. Jose has a lump-sum to invest and he is considering a Guaranteed Minimum Withdrawal Benefit (GMWB). Which of the following statements about GMWBs is CORRECT?
a)		The GMWB will not allow Jose to make additional contributions once the original lump-sum is purchased.
b)		Jose will not be allowed to withdraw any funds during the savings phase of the GMWB contract.
c)		Jose will earn a credit every year in which he does not withdraw from the GMWB.
d)		Once Jose begins the payout phase of the GMWB contract, he will be able to take extra income withdrawals without penalties.

Gabija turns 71 on August 1st of this year. She earned $20,000 last year and has a registered retirement savings plan (RRSP) carry-forward amount of $7,000. Gabija has never over-contributed to her plan and would like to make an RRSP contribution this year. Which of the following statements about Gabijas RRSP contribution is CORRECT?
a)		If Gabija wishes to make an RRSP contribution this year, she must do so before August 1st.
b)		If Gabija makes an RRSP contribution on March 31st, she can designate it as a contribution for the previous year.
c)		Gabija can contribute $9,000 to her RRSP at any time in the current year without penalty.
d)		Gabija can contribute $4,000 to her RRSP this year, and contribute $3,000 next year.

Enrique is preparing for retirement and he will be eligible for a Canada Pension Plan (CPP) retirement benefit of $800 per month at age 65. Which of the following statements about Enriques CPP benefits is CORRECT?
a)		Enrique will receive $684.80 per month if he begins receiving CPP at age 63.
b)		Enrique will receive $972.80 per month if he begins receiving CPP at age 68.
c)		Enrique cannot receive the CPP retirement pension while he is still working.
d)		Enriques CPP benefit is subject to a 15% repayment based on total income.