Question 1

Even though you expect to receive OAS and CPP,a common rule of thumb is in order to be able to retire comfortably is

Accepted Answer

A) to save an additional 10 percent of gross earnings in a variety of pension investments. 
B) to save at least 10 percent of after-tax earnings in retirement accounts. 
C) to make sure you are in a long-term pension plan. 
D) to maximize OAS and CPP and GIS. 
A) to save an additional 10 percent of gross earnings in a variety of pension investments. 
B) to save at least 10 percent of after-tax earnings in retirement accounts. 
C) to make sure you are in a long-term pension plan. 
D) to maximize OAS and CPP and GIS.

Question 2

CPP offers

Accepted Answer

A) a full survivor benefit to the spouse of a recipient who was receiving CPP on death. 
B) the option of collecting it up to five years early with a reduced benefit. 
C) an exclusions of 30 percent of your lowest earning years in the calculation of your CPP entitlement. 
D) the GIS benefit for low income seniors. 
A) a full survivor benefit to the spouse of a recipient who was receiving CPP on death. 
B) the option of collecting it up to five years early with a reduced benefit. 
C) an exclusions of 30 percent of your lowest earning years in the calculation of your CPP entitlement. 
D) the GIS benefit for low income seniors.

Question 3

If,at regular retirement age,you would have qualified for $1000 CPP income and $500 OAS income,what monthly income would you receive if you deferred them both by five years?

Accepted Answer

A) $1950 
B) $2100 
C) $2130 
D) $2040 
A) $1950 
B) $2100 
C) $2130 
D) $2040

Question 4

If you were 28 years old when you moved to Canada and became a resident,at age 65 you would be entitled to

Accepted Answer

A) a full OAS pension if your income is below $74 000. 
B) an OAS pension of 27/30 if your income is below approximately $115 000. 
C) an OAS pension depending on your life time YMPE earnings. 
D) an OAS pension of 37/40 if your income is below approximately $74 000. 
A) a full OAS pension if your income is below $74 000. 
B) an OAS pension of 27/30 if your income is below approximately $115 000. 
C) an OAS pension depending on your life time YMPE earnings. 
D) an OAS pension of 37/40 if your income is below approximately $74 000.

Even though you expect to receive OAS and CPP,a common rule of thumb is in order to be able to retire comfortably is

CPP offers

If,at regular retirement age,you would have qualified for $1000 CPP income and $500 OAS income,what monthly income would you receive if you deferred them both by five years?

If you were 28 years old when you moved to Canada and became a resident,at age 65 you would be entitled to

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Exam 5: Retirement and Estate Planning - Retirement Planning

Even though you expect to receive OAS and CPP,a common rule of thumb is in order to be able to retire comfortably is

CPP offers

If,at regular retirement age,you would have qualified for $1000 CPP income and $500 OAS income,what monthly income would you receive if you deferred them both by five years?

If you were 28 years old when you moved to Canada and became a resident,at age 65 you would be entitled to

Tools for Financial Planning - Applying Time Value Concepts

Tools for Financial Planning - Planning with Personal Financial Statements

Tools for Financial Planning - Using Tax Concepts for Planning

Managing Your Financial Resources - Banking Services and Managing Your Money

Managing Your Financial Resources - Assessing,Managing and Securing Your Credit

Managing Your Financial Resources - Purchasing and Financing a Home

Protecting Your Wealth - Auto and Homeowner's Insurance

Protecting Your Wealth - Health and Life Insurance

Personal Investing - Investing Fundamentals

Personal Investing - Investing in Stocks

Personal Investing - Investing in Bonds

Personal Investing - Investing in Mutual Funds

Retirement and Estate Planning - Estate Planning

Synthesis of Financial Planning - Integrating the Components of a Financial Plan

Filters