Mini-Case A: (1 mark-.20 marks each)

Prisha is only 25 years old and already has a few registered accounts. She can withdraw from her _______________________ with no tax impact but if she withdraws from her ________________ she must include the amount on her tax return and pay taxes on it unless she uses the funds under the following two plans: _____________________ and _______________________.

Prishas grandmother turns 71 years of age this November, she must therefore convert her Registered Retirement Savings Plan (RRSP) into a ________________ before December 31, 2021.

Choose from the words below to complete the sentences above.

Tax-Free Savings Account (TFSA); Reverse Mortgage; Registered Retirement Income Fund (RRIF); Registered Retirement Savings Plan (RRSP); Retirement Income Planning; Home Buyers Plan (HBP); Registered Retirement Savings Plan (RRSP); Lifelong Learning Plan (LLP); Defined Benefit Pension Plan (DBPP); Defined Contribution Pension Plan (DCPP); Testamentary Trust.