Maureen is 65 years old and will be retiring soon. She has a modest portfolio of mutual funds that focus on growth. As she approaches retirement, Maureen wants to switch to investments that provide steady income with low to medium risk.Given Maureen's wishes, which of the following mutual funds would be suitable for her?
Answer(s): A
Which of the following statements about your mutual fund registration is CORRECT?
Answer(s): D
Greg, one of your clients, has been advised by a friend to invest in open-end mutual funds. He is not sure about the differences between open and closed-end funds.What would you tell Greg about open-end funds?
Pierre buys a call option on a stock. What is the implication of this transaction?
Your clients, Philip and Helen, have a disabled son, Alex, age 22. They want to set up a registered disability savings plan (RDSP) for Alex and have asked you for some information.Which statement is TRUE?
Answer(s): C
Karen's know your client (KYC) profile corresponds to someone who has a long time horizon, is comfortable with risk and volatility, and is primarily interested in growth. She watches the daily movements of the Toronto Stock Exchange (TSX) and wants a mutual fund that will closely match what she sees.What kind of mutual fund would be BEST for her?
Answer(s): B
Which of the following statement about Exchange Traded Funds (ETFs) is TRUE?
Eleanora receives a $500 eligible Canadian dividend from her mutual fund. Her federal marginal tax rate for the year is 29%. Assuming the enhanced gross-up of 38% and a federal dividend tax credit of 15.02%, how much federal tax will she pay on her dividend?
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