Which of the following statements is correct about the Lifelong Learning Plan?

A. The maximum tax-free withdrawal is $10,000 per year for up to four years.

B. A taxpayer cannot participate in a Home Buyers Plan and a Lifelong Learning Plan in the same year.

C. Minimum repayments must be made over a period of ten years.

D. Tax-free withdrawals can be made by a part-time student as long as they are repaid within two years.

An individual's RRSP must be terminated in the year the individual turns 65. True/False

Earned Income for RRSP purposes only includes taxable spousal support received, business losses and net rental income. True/False

Unused RRSP deduction room can be carried forward to future years. True/False

In order to make a non-taxable withdrawal from an RRSP under the Home Buyer's Plan, an individual must have bought or built a "qualifying home" before October 1 of the year following the year of withdrawal. True/False'

Only employers can establish and contribute to a Deferred Profit Sharing Plan. True/False