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?
Seven years ago, Amber invested $150,000 in a non-registered equity segregated fund. Her investment grew, and today, the market value of her fund is $165,000. She places an order to redeem her fund and she wants to know how her investment will be taxed.
Manitoba resident Patrice works for ABC Inc. where he is covered by group life insurance. He consults Louise, his insurance agent, because he wants to maintain some life insurance coverage when he retires at age 65.
How much of Patrice’s group life insurance can he convert to individual life insurance coverage when he retires?