Csi Wealth Management Essentials Pdf Download
Questions
1. Ernie contributed the following amounts to a spousal RRSP to split income.
2008 $5,000 (Royal Bank)
2009 $6,000 (Royal Bank)
2010 $4,000 (CIBC)
2011 $3,000 (CIBC)
Financial Management is an essential part of the economic and non economic activities. • Favourable arguments for wealth maximization 7. The CSI website does really say what's on each exam. All it says is I'm responsible for all the material and Exam 2 is more case-based. All it says is I'm responsible for all the material and Exam 2 is more case-based. Jul 10, 2018 - Books canadian securities course csc (PDF, ePub, Mobi). Securities course pdf. Essentials Pdf File.
In 2012, his spouse withdrew $11,000 from the Royal Bank. The following consequences will arise in 2012 ?
a) Ernie will include $11,000 in his income.
b) Ernie’s spouse will include $11,000 in her income.
c) Ernie will include $3,000 in his income and his spouse will include $8,000 in her income.
d) Ernie will include $7,000 in his income and his spouse will include $4,000 in her income.
2. Rose invests $30,000 into a GMWB plan. Assume the minimum death benefit guarantee. She makes the first annual withdrawal of $1,500 in one year’s time, when the market value of the plan is $40,000. What is the new death benefit guarantee?
a) $21,656
b) $21,357
c) $28,500
d) $28,875
Answers
1. d) Ernie will include $7,000 in his income and his spouse will include $4,000 in her income.
Any RRSP contributions made in the year of withdrawal and the two previous calendar years, are taxed in the hands of the contributor (Ernie). The remaining proceeds are included in the other spouse’s income and taxed at the other spouse’s rate. For 2012, 2011 and 2010 amounts contributed to the RRSP were $7,000 [$3,000 + $4,000]. These amounts are attributed back to Ernie and taxed in his hands. The remaining $4,000 is taxed in Ernie’s spouse’s hands. With regards to the funds being withdrawn from the RRSPs, CRA uses the “Last-In-First-Out” assumption; the last funds contributed are deemed to be the first funds withdrawn. The fact that the RRSP money withdrawn was from the Royal Bank RRSPs is irrelevant to CRA. CRA deems that the RRSP money withdrawn is $3,000 from the CIBC (2011), $4,000 from the CIBC (2010) and $4,000 from the Royal Bank (2009).
Ref: Chapter 8
2. a) $21,656
Pirates Of The Caribbean-the Curse Of The Black Pearl Hindi Dubbed Movie 480p In Full HD Download. That is, unless a blood sacrifice is made. Elizabeth, the daughter of the governor and the love of Will's life, has been kidnapped by the feared Captain Barbossa. Download pirates of the caribbean 1 in hindi full hd. He, along with his large crew, are under an ancient curse, doomed for eternity to neither live, nor die. Little do they know, but the fierce and clever Barbossa has been cursed.
The proportionate reduction to the death benefit guarantee is calculated as:
Csi Wealth Management
Minimum Guarantee: $22,500 [$30,000 × 75%]
Guarantee Reduction = G × W / MV
where
G = Guarantee prior to transaction
W = Withdrawal Amount
MV = Market Value prior to withdrawal
Csi Wealth Management Essentials
= $22,500 × $1,500/ $40,000
= $22,500 × 0.0375
= $843.75
New Death Benefit Guarantee: $21,656 [$22,500 – $843.75]
Ref: Chapter 10
For more Wealth Management Essentials questions, check out the WME Quiz Book and WME Case Study Workbook. Keep up to date on our courses and products by liking us on Facebook and following our Twitter Feed.