IFSE Institute Related Exams
LLQP Exam
Christie’s savings and investment assets include the following:
RRSP: $100,000 in bond funds
Home valued at: $400,000
Defined benefit pension plan (DBPP) valued at: $50,000
Chequing account: $6,000
Savings account: $5,000
Her liabilities include:
Credit card debt: $20,000
Balance of mortgage: $200,000
Based on the information provided, what should Christie’s priority be?
Sabrina is an insurance representative with an insurance of persons certificate issued by the Autorité des marchés financiers (AMF). Her client, Stephanie, is a Quebec resident who accepted a job with Service Canada, in Ottawa, and purchased a condo there. Stephanie calls Sabrina to explain that her new job requires her to work in Ottawa three days per week, but she is still a Quebec resident; she spends four days a week with her family in Granby, Quebec. Stephanie asks Sabrina if she can buy mortgage insurance from her to help cover the mortgage on her new condo.
What should Sabrina answer her?
(Gregory and Vanessa married at an early age and had three children, who are now in their forties: Eve, Rick and Max. When the couple retired five years ago, they purchased a joint life annuity. They also had a will drawn up naming the three children as equal beneficiaries of their estate. The will specifies that Eve will act as executor of the estate.
Last week, Gregory and Vanessa both died in a car accident.
Who could make a death claim as regards the annuity?)