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WorksheetsCI Ops - Account Types Quiz
Total questions: 15
Worksheet time: 10mins
Match the following
JTWROS
Two or more owners
JTIC
Two owners
TFSA
Individual ownership
The beneficiary of a locked-in plan must be the
Spouse/Common Law Partner
Estate
Child
Blood Relative
What documents can be submitted to change the beneficiary of a locked-in plan to someone other than the spouse?
SSD
Divorce decree
Estate documents
Spousal Death Benefit Waiver form
A savings plan must be converted to an income plan by
Dec 31st in which the annuitant turns 71
Dec 31st in which the annuitant turns 55
The end of the year
Whenever the client chooses to start receiving income
TFSA contribution room is accumulative.
True
False
Match the following redemption amount with the corresponding WHT.
$0-$5000
10%/19% QC
$5000.01 - $15000
20%/24% QC
$15000.01 +
30%/29% QC
Which plan type has it's own application form?
LIRA
RRSP
RIF
TFSA
LIF
The in an income plan is not subject to withholding tax.
(a)
The default frequency for RIF/LIF payments is
Monthly
Semi-annually
Bi-weekly
Annually
The default amount for RIF/LIF payments is
The MAX
The MIN
$500
There is no default
PRIFs are only available in which two provinces?
Ontario
Manitoba
Alberta
Saskatchewan
What does RPP stand for?
Retirement Pension Plan
Restricted Pension Plan
Registered Petition Plan
Registered Pension Plan
Contributions into a LIRA are permitted.
True
False
LIRAs are (a) while LRSPs are (b) .
Which document is not required when setting up a Corporate account?
CI Open and Registered Application Form
Corporate Resolutions
AOI
LOI
