Jackson plans to retire at the end of this year. At which time he expects to receive a retiring allowance of $40,000. He has worked for his current employer since April 1985 and his employer never offered a pension plan. How much of the retiring allowance will Jackson be able to rollover into RRSP?

Amanda's husband, who was an air traffic controller for the past 8 years, was a vested member of a defined benefit pension plan before his death at age 39. As his surviving spouse, to what is Amanda entitled?

A. nothing

B. a refund of her husband's contributions

C. a refund of her husband's contributions and those made by his behalf

D. the full value of his accumulated pension benefits in the for of a deferred annuity or a transfer of a lump-sum to a locked-in retirement account.

Reggie takes out a $100,000 insurance policy on his home. The insurance company makes a mistake and issues a policy providing coverage for $200,000. Reggie noticed mistake but did not notify the insurer. The following year, Reggie's house burned down and he claimed $200,000, the company would:

A. pay the full $200,000 benefit because they made mistake

B. pay the $200,000 benefit based on the parol evidence rule

C.pay the $100,000 benefit based on the remedy of reformation

D. avoid paying the claim until the courts decide whether they have breached the terms of the contact

Olivier owned an ocean front home that he eventually wanted to pass on to his grandchildren. He left life interest in the home to his wife, Diana, in the form of a spousal trust and remainder interest to his grandchildren. Diana survived Olivier by 25 years. When would the first deemed disposition date for the home occur?

A. upon Olivier's death

B. upon Diana's death

C. 21 years after the trust was created

D. 21 years after Diana's death

Answer rating: 100% (QA)

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