Steve and Rhonda have been married for 20 years and have 2 children aged 8 and 10. Steve has been working as a Production Manager at Ford Canada and earns $150,000. Rhonda works as a server in a top notch restaurants and earns $50,000 annually. They have heard that they should open a spousal RASP account. Which of the following statement is true for spousal RRSP Account:

a. Steve should open a spousal RRSP account in the name of Rhonda. The contribution he makes would be used against his RRSP contribution room and Rhonda would use the contributions as deductions from her taxable income.

b. Steve should open a spousal RRSP account in the name of Rhonda. The contribution he makes would be used against his RRSP contribution room and he would use the contributions as deductions from his taxable income

c. Rhonda should open a spousal RRSP account in Steve's name. The contribution she makes would be used against Steve's RSP contribution room and Rhonda would use the contributions as deductions from her income.

d. Rhonda should open a spousal RRSP account in Steve's name. The contribution she makes would be used against her RRSP contribution room and Rhonda would use the contributions as deductions from her income

 John Di Giulio is 45 years old and has been living in a steady common law relationship with Brittany for the last 11 years. When he was single, he had purchased a Life insurance policy that is still current. The policy has accumulated Cash Surrender Value (CS) of $30,000 as of 31 Dec 2021. He was shocked when he recently got a call from his Insurance Advisor that the CS has gone in negative because of the current market conditions, and he needs to put additional funds in the policy failing which the policy will lapse. What kind of Life Insurance Policy does John have?

a.  Term Insurance Policy to age 70

b. Group Insurance Policy

c. Universal Life Insurance Policy

d. 20 years Term Life Insurance Policy