Question 33 (1 point) Rhonda is an LLP participant who withdrew $6,000 from her RRSP in 2016, during her first year of university, and $6,000 during her second year. With a current total balance of $12,000 in her LLP, what is the maximum amount that Rhonda can make as an LLP withdrawal in 2018, during her third year of full-time attendance at university? A) $0 B) $6,000 C) $8,000 D) $10,000 Question 37 (1 point) Marty joined his employers defined contribution plan 26 years ago, and is now reaching the plan sponsors normal retirement age. He has accumulated pension assets of $230,070 and is considering purchasing a life annuity with monthly payments beginning at the end of each month. Assuming a nominal return rate of 4.2%, compounded quarterly, and life expectancy of 25 years, what monthly income will he receive from the current pension assets? A) 1,252 B) 1,238 C) 2,100 D) 1,832 Question 30 (1 point) Annie has three RRIFs as follows: #1 - with bank - book value of $52,000 - market value of $163,000 #2 - with mutual fund company - book value of $93,000 - market value of $71,000 #3 - with insurance company - book value of $55,000 - market value of $59,000 With regard to the foreign content rule, as it applies to Annie's RRIES, which one of the following statements is true? Annie can hold a maximum of $16,500 of foreign content in RRIF #1 Annie can hold any amount of foreign content in a RRIE Annie can hold a maximum of $60,000 of foreign content in RRIF #3 Annie can hold a maximum of $21,300 of foreign content in RRIF #2 Question 26 (1 point) Marcel has an income that varies drastically from year to year. He likes the idea of changing his premium when necessary to adjust for his cash flow needs. He is looking to purchase insurance on his life. Which of the following would be the best option for Marcel: A) Whole Life B) Universal Life C) Term D) Term 100 Question 34 (1 point) Andy joined his employer's defined contribution pension plan on January 1, 2017, when he was first eligible. The plan, which had a two-year vesting schedule, required employee and employer contributions. Andy terminated employment with his employer on March 30, 2018. During the time that he participated in the company pension plan; Andy contributed $3,750 while his employer also contributed $3,750 on Andy's behalf. Which of the following statements is true with regard to Andy's financial entitlement upon termination from the plan? A) Andy is entitled to $7,500, the sum of his and the employer's contributions B) Andy's only entitlement is the current value of his $3,750 of contributions plus interest earned C) Andy is entitled to return of his $3,750 of contributions plus interest, as well as $2,812.50 in employer contributions D) Andy's termination prior to the end of the vesting period results in the loss of his and his employer's contributions Question 33 (1 point) Rhonda is an LLP participant who withdrew $6,000 from her RRSP in 2016, during her first year of university, and $6,000 during her second year. With a current total balance of $12,000 in her LLP, what is the maximum amount that Rhonda can make as an LLP withdrawal in 2018, during her third year of full-time attendance at university? A) $0 B) $6,000 C) $8,000 D) $10,000 Question 37 (1 point) Marty joined his employers defined contribution plan 26 years ago, and is now reaching the plan sponsors normal retirement age. He has accumulated pension assets of $230,070 and is considering purchasing a life annuity with monthly payments beginning at the end of each month. Assuming a nominal return rate of 4.2%, compounded quarterly, and life expectancy of 25 years, what monthly income will he receive from the current pension assets? A) 1,252 B) 1,238 C) 2,100 D) 1,832 Question 30 (1 point) Annie has three RRIFs as follows: #1 - with bank - book value of $52,000 - market value of $163,000 #2 - with mutual fund company - book value of $93,000 - market value of $71,000 #3 - with insurance company - book value of $55,000 - market value of $59,000 With regard to the foreign content rule, as it applies to Annie's RRIES, which one of the following statements is true? Annie can hold a maximum of $16,500 of foreign content in RRIF #1 Annie can hold any amount of foreign content in a RRIE Annie can hold a maximum of $60,000 of foreign content in RRIF #3 Annie can hold a maximum of $21,300 of foreign content in RRIF #2 Question 26 (1 point) Marcel has an income that varies drastically from year to year. He likes the idea of changing his premium when necessary to adjust for his cash flow needs. He is looking to purchase insurance on his life. Which of the following would be the best option for Marcel: A) Whole Life B) Universal Life C) Term D) Term 100 Question 34 (1 point) Andy joined his employer's defined contribution pension plan on January 1, 2017, when he was first eligible. The plan, which had a two-year vesting schedule, required employee and employer contributions. Andy terminated employment with his employer on March 30, 2018. During the time that he participated in the company pension plan; Andy contributed $3,750 while his employer also contributed $3,750 on Andy's behalf. Which of the following statements is true with regard to Andy's financial entitlement upon termination from the plan? A) Andy is entitled to $7,500, the sum of his and the employer's contributions B) Andy's only entitlement is the current value of his $3,750 of contributions plus interest earned C) Andy is entitled to return of his $3,750 of contributions plus interest, as well as $2,812.50 in employer contributions D) Andy's termination prior to the end of the vesting period results in the loss of his and his employer's contributions