WorksheetsIntroduction to SEG Funds
Total questions: 15
Worksheet time: 8mins
Segregated Funds are a combination of what two things?
Life Insurance
Disability Insurance
Mutual Funds
Hedge Funds
Health Insurance
Segregated Funds offer what benefits? (Select all that apply)
Principle Protection
Avoidance of Probate
Creditor Protection
Superior growth to Mutual Funds
Who receives the guaranteed value upon maturity?
Beneficiary
Owner
Insurance company
What are the requirements of an Annuitant? (Select all that apply)
Must be a living person
Must be the owner of the contract
Must be at least 15 days old
Must be at least 18 years of age
Must be a Canadian resident when the policy is established
The higher the Guarantee level on a SEG contract, the higher the cost of the fund.
True
False
Class B (Combined) offers what Guarantee level?
100% DG, 75% MG
75% DG, 100% MG
100% DG, 100% MG
75% DG, 75% MG
An owner can only access their Market Value on the Maturity Date.
True
False
At maturity, the higher of the maturity guarantee and market value is paid to the owner.
True
False
The higher of the death guarantee or market value is paid out to the beneficiary upon the death of the owner.
True
False
The Benefit Determination Amount (BDA) is the value used to calculate your Guarantees.
True
False
A client can hold a Segregated Fund Contract beyond the Contract Maturity Date.
True
False
If a client made their initial contribution into a SEG fund contract on July 1st 2004, when will their anchor date be?
January 1st 2004
July 1st 2004
December 31st 2004
If a deposit maturity date falls in the closing decade of a contract, the deposit maturity date will then be extended to the contract maturity date (age 100 of annuitant).
True
False
Resets can lock in both market gains and losses.
True
False
Which of the following cappings no longer allow any purchases into the fund/contract?
Hard Capped Contract
Soft Capped Contract
Special Hard Capped Contract
Restricted Funds
