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Connie opens a tax-free savings account (TFSA) and invests $10,000 in the Skymark Balanced Segregated Fund. The fund has a 75% maturity guarantee, a
Connie opens a tax-free savings account (TFSA) and invests $10,000 in the Skymark Balanced Segregated Fund. The fund has a 75% maturity guarantee, a 100% death benefit guarantee, and is purchased with a front-end load (FEL) of 4%. Connie names her husband Khaled as beneficiary. The Skymark Balanced Segregated Fund declines in value to $9,000. Which of the following statements about Connie's investment in the segregated fund is CORRECT? Any top-up required for Connie's maturity guarantee will be taxable as interest. The $10,000 contribution that Connie made to the TFSA is tax-deductible, If Connie were to die today, Khaled would receive $10,000 as beneficiary. If Connie withdraws $1,000 in year 1, the redemption fee will be $40. 25 O Oa) Ob) Oc) Od) 18888
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