Purchasing a common stock or a company share is: * purchasing a company equity and owning a percentage of the company purchasing a company debt and becoming their creditor a very safe strategy for growing personal wealth Purchasing a Bond is: * purchasing a company equity and owning a % of the company purchasing a company debt and becoming their creditor a very safe strategy for growing personal wealth Which 2 pension plans are the EMPLOYER-SPONSORED PENSION PLANS: * A) Canada Pension Plan B) Defined Benefit Plan C) Defined Contribution Plan D) both b and c are correct E) both a and b are correct A Registered Retirement Savings Plan (RRSP) is * A) a personal line of credit bank account B) an income supplement for childrenless Canadians C) a retirement saving account D) both b and c are correct never lean toward the job with a pension plan as the starting salary is always lower always lean toward the job with a pension plan, even if the starting salary is lower the starting salary for a job with a pension plan should always be higher, so it is usually a better choice Stay-at-home parents who never worked for an income: * 2 points do not contribute to Canada Pension Plan (CPP) and do not receive it once retired do not contribute to Canada Pension Plan (CPP) but they still receive it once retired receive Canada Pension Plan (CPP) just like everyone else who lives in Canada at the time of their retirement regardless of whether the contribution was made or not GIS or Guaranteed Income Supplement is for all Seniors in Canada aged 60. TRUE fALSE Which statements is not true about Fixed-Income Investments? * Fixed-Income Investments, even though protected by the government, are very risk investments and not recommended. Fixed-Income Investments produce a yield or a fixed-income which is predictable e.g. 0.05% a year They are protected by the government and therefore, 100% secure. the money is 'locked-in' or frozen and cannot be used until the maturity date Fixed-Income Investments are safe, slow and steady cash preserving investments Old Age Security (OAS):* A) is a federal government-funded plan that requires no contributions B) is for men only whereas CPP is for women C) is a disability pension plan D) both b and c are correct GIS or Guaranteed Income Supplement is for all Seniors in Canada aged 60 . * 1 point TRUE FALSE FEDERAL GOVERNMENT RETIREMENT BENEFITS include. ? Defined Benefit Plan and Defined Contribution Plan CPP, OAS and GIS Old Age Security (OAS) CPP and OAS Defined Benefit Plan and Defined Contribution Plan, CPP, OAS and GIS Purchasing a common stock or a company share is: * purchasing a company equity and owning a percentage of the company purchasing a company debt and becoming their creditor a very safe strategy for growing personal wealth Purchasing a Bond is: * purchasing a company equity and owning a % of the company purchasing a company debt and becoming their creditor a very safe strategy for growing personal wealth Which 2 pension plans are the EMPLOYER-SPONSORED PENSION PLANS: * A) Canada Pension Plan B) Defined Benefit Plan C) Defined Contribution Plan D) both b and c are correct E) both a and b are correct A Registered Retirement Savings Plan (RRSP) is * A) a personal line of credit bank account B) an income supplement for childrenless Canadians C) a retirement saving account D) both b and c are correct never lean toward the job with a pension plan as the starting salary is always lower always lean toward the job with a pension plan, even if the starting salary is lower the starting salary for a job with a pension plan should always be higher, so it is usually a better choice Stay-at-home parents who never worked for an income: * 2 points do not contribute to Canada Pension Plan (CPP) and do not receive it once retired do not contribute to Canada Pension Plan (CPP) but they still receive it once retired receive Canada Pension Plan (CPP) just like everyone else who lives in Canada at the time of their retirement regardless of whether the contribution was made or not GIS or Guaranteed Income Supplement is for all Seniors in Canada aged 60. TRUE fALSE Which statements is not true about Fixed-Income Investments? * Fixed-Income Investments, even though protected by the government, are very risk investments and not recommended. Fixed-Income Investments produce a yield or a fixed-income which is predictable e.g. 0.05% a year They are protected by the government and therefore, 100% secure. the money is 'locked-in' or frozen and cannot be used until the maturity date Fixed-Income Investments are safe, slow and steady cash preserving investments Old Age Security (OAS):* A) is a federal government-funded plan that requires no contributions B) is for men only whereas CPP is for women C) is a disability pension plan D) both b and c are correct GIS or Guaranteed Income Supplement is for all Seniors in Canada aged 60 . * 1 point TRUE FALSE FEDERAL GOVERNMENT RETIREMENT BENEFITS include. ? Defined Benefit Plan and Defined Contribution Plan CPP, OAS and GIS Old Age Security (OAS) CPP and OAS Defined Benefit Plan and Defined Contribution Plan, CPP, OAS and GIS