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| Section | Objectives |
|---|---|
| Retirement Planning | - Retirement savings vehicles and planning principles |
| Financial Planning Foundations | - Ethics and professional standards in financial advising - Financial planning process and client relationship management |
| Insurance and Risk Management | - Life and health insurance fundamentals - Risk mitigation strategies in financial planning |
| Taxation Concepts | - Tax-efficient investment strategies - Personal income tax principles |
| Investment Planning | - Asset allocation and portfolio basics - Investment products and risk-return profiles |
Suzy, age 45, is meeting with a financial planner as she has recently inherited $1.25 million from her late aunt. Suzy has poor spending habits and would like to review options that would safeguard and help her receive stable cash flows. She does not have a lot of experience investing and would like to avoid making day- to-day investment decisions. Which type of investment account is most appropriate for Suzy?
Correct Answer: D 🗳️
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Sunil and Shashi are married and both age 45. Each is the personal care Power of Attorney (POA) for the other. They have no children. Shashi would like to revise the personal care POA to ensure that it reflects her medical wishes. How should their financial planner advise Shashi to help her achieve her goal?
Correct Answer: C 🗳️
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Consider the following information for a client's portfolio:
What is the annual rate of return for this portfolio?
Correct Answer: C 🗳️
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In 2019, Glenda, age 46, visited her financial planner to discuss her goal of retiring at the age of 65. Glenda had questions about whether she qualified for the maximum amount of CPP and OAS benefits as she had immigrated to Canada just 10 years earlier to take a job as a nuclear technician. What should her financial planner have told her?
Correct Answer: D 🗳️
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Sheeba is a financial planner and meeting with Ivana, a new client. She explains that part of her process is to recommend products and services, but prior to doing so, she will closely investigate the options to ensure they match up with Ivana's goals. Which professional responsibility has Sheeba demonstrated to Ivana?
Correct Answer: D 🗳️
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