Connie opens a tax-free savings account (TFSA) and invests $10,000 in the Skymark Balanced Segregated Fund....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Connie opens a tax-free savings account (TFSA) and invests $10,000 in the Skymark Balanced Segregated Fund. The fund has a 75% maturity guarantee, a 100% death benefit guarantee, and is purchased with a front-end load (FEL) of 4%. Connie names her husband Khaled as beneficiary. The Skymark Balanced Segregated Fund declines in value to $9,000. Which of the following statements about Connie's investment in the segregated fund is CORRECT? Any top-up required for Connie's maturity guarantee will be taxable as interest. The $10,000 contribution that Connie made to the TFSA is tax-deductible, If Connie were to die today, Khaled would receive $10,000 as beneficiary. If Connie withdraws $1,000 in year 1, the redemption fee will be $40. 25 O Oa) Ob) Oc) Od) 18888 Connie opens a tax-free savings account (TFSA) and invests $10,000 in the Skymark Balanced Segregated Fund. The fund has a 75% maturity guarantee, a 100% death benefit guarantee, and is purchased with a front-end load (FEL) of 4%. Connie names her husband Khaled as beneficiary. The Skymark Balanced Segregated Fund declines in value to $9,000. Which of the following statements about Connie's investment in the segregated fund is CORRECT? Any top-up required for Connie's maturity guarantee will be taxable as interest. The $10,000 contribution that Connie made to the TFSA is tax-deductible, If Connie were to die today, Khaled would receive $10,000 as beneficiary. If Connie withdraws $1,000 in year 1, the redemption fee will be $40. 25 O Oa) Ob) Oc) Od) 18888
Expert Answer:
Related Book For
Operations Management Creating Value Along the Supply Chain
ISBN: 978-0470525906
7th Edition
Authors: Roberta S. Russell, Bernard W. Taylor
Posted Date:
Students also viewed these banking questions
-
Which of the following statements about the security market line (SML) are true? a. The SML provides a benchmark for evaluating expected investment performance. b. The SML leads all investors to...
-
Which of the following statements about deception is accurate? a). Deception has never been used in any research study in the history of psychology. b). There has been a steady increase in the use of...
-
Which of the following statements about the minimum variance portfolio of all risky securities are valid? (Assume short sales are allowed.) Explain. a. Its variance must be lower than those of all...
-
According to Kurt Lewin, why is it so difficult to motivate employees to alter their patterns of behavior?
-
When the linear search algorithm is applied to the array a1, a2, a3, . .. , an (of n distinct integers) for the integer key, suppose the probability that key has the value at is i /[n (n + 1)], for 1...
-
Is Hobbess proposed solution to the problem of egoism, via the social contract, acceptable?
-
Distracted Driving In a AAA Foundation for Traffic Safety survey, 21% of the respondents said that they recently texted or e-mailed while driving. Determine whether the given value is a statistic or...
-
1. Explain the concept of strategic planning to Way Outs owner. 2. Decide what else you might want to know about Way Out. Consider the internal and external factors described on pages 59 to 61, and...
-
The following cash flows are estimated for two mutually exclusive projects. The projects required rate of return is 10%. Project A Project B Year Cash Flow Cash Flow 0 -$200,000 -$220,000 1234...
-
Using lab 7 with a three-day lead time (all original values), we will analyze six different scenarios to determine which would be the best scenario based on the total cost. Scenario A - Min is 3,500...
-
AStar Rentals (AR) maintains an inventory of rental houses near Sharjah universities and leases those houses to student renters. This case describes their rental business process. AR agentsformer...
-
A vessel containing oil under pressure is shown in Fig. 2-15. Find the elevation of the oil surface in the attached piezometer. Elev. 2 m Elev. 0 m Air pressure 35 kPa V Oil (s.g. 0.83)
-
Let's say I have a company called Big & Thicc Clothing who has not paid any dividends recently. It has 3000 stocks in the marketplace. These stocks are trading at $15/share today. Then the company...
-
Christopher and Carolyn are your clients. They have surplus funds and have two investment options: Buy a studio apartment in a complex being built in Ringwood or 2) Invest in an MLC Managed Property...
-
What represents the paramount business justification for cultivating diverse leadership cohorts within organizational structures, taking into account factors such as enhanced innovation, superior...
-
Electric cars are able to regenerate energy during braking. Given a Car class, create an Ev subclass that inherits from Car. The Ev class also has an int batteryLevel field. Override the brake method...
-
A student is in a stationary hot-air balloon that is momentarily fixed at 1600 ft above a piece of land. The pilot looks down 45 (from horizontal) and turns laterally 360. Find: a) How many acres...
-
You are the newly appointed tax practitioner to complete Emilys tax return and have downloaded the prefill report for Emilys tax return (hint, you can read what a prefill report is here (Links to an...
-
Differentiate between performance specifications, design specifications, and manufacturing specifications. Write sample specifications for a product or service of your choosing.
-
Globetron manufactures components for use in small electronic products such as computers, CD players, and radios at plants in Belgium, Germany, and France. The parts are transported by truck to...
-
1. Create a service blueprint of the refinancing process. Why do you think the bank organized its process this way? What problems have ensued? 2. Examine the process carefully. Look at customer/...
-
Americans have become passionate consumers of the Asian hot sauce Sriracha. Sriracha is produced by Huy Fong Foods in Irwindale, California. Each year the company processes over 100 million pounds of...
-
In developing a vaccine for the COVID-19 virus, a pharmaceutical company incurs a very high fixed cost. The marginal cost of delivering the vaccine to patients, however, is negligible (consider it to...
-
In this question you are going to explore the trends in income inequality across countries. Go to the World Inequality Database, wid.world and select Country Graphs. Open up the data for Finland and...
Study smarter with the SolutionInn App